Gold Mountain Announces $5.0 Million Brokered Private Placement

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VANCOUVER, BC / ACCESSWIRE / February 1, 2021 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSXV:GMTN)(Frankfurt:5XFA) is pleased to announce that it has entered into an engagement letter with Canaccord Genuity Corp. and Gravitas Securities Inc. (collectively the "Agents") in connection with a private placement of up to 5,155,000 units of the Company (the "Units") at a price of $0.97 per Unit (the "Issue Price") for gross proceeds to the Company of $5,000,350 (the "Offering"). Each Unit consists of one common share of Gold Mountain ("Common Shares") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable to acquire one Common Share at a price of $1.25 for 36 months from the closing date of the Offering.