TSX-V TRADING SYMBOL: GUM
VANCOUVER, July 13, 2016 /CNW/ - Gold Mountain Mining Corporation (the "Company" or "Gold Mountain") is pleased to announce KCR LLC has acquired ownership of 20 million common shares of Gold Mountain Mining Corporation.
Following the completion of the transaction, KCR LLC has ownership of 30,216,500 common shares of Gold Mountain Mining Corporation, representing approximately 43.8% of the current issued and outstanding common shares. KCR LLC acquired the shares, through a private transaction at a price of $0.10/share.
Jim O'Rourke, Gold Mountain's Chairman of the Board, said, "We are very pleased to welcome the KCR fund as the new major shareholder. The addition of an aggressive and active group will be a significant contribution to moving our company forward. We are eager to receive their input."
About Gold Mountain Mining
Gold Mountain is a public resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company owns 100% of the 16,700 hectare Elk Gold property, which the Company intends to develop into a precious metal producer within the next two years, and is also seeking additional near-term production assets to further build shareholder value. Additional information is available on Sedar.com or on the Company's website at www.aumtn.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
ON BEHALF OF THE BOARD
"Chris McLeod" (signed)
Chris McLeod, President & CEO
Forward-Looking Statements: This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the closing of further tranches of the Offering, the use of proceeds from the Offering and the Company's plans with respect to the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE Gold Mountain Mining Corporation
For further information: Chris McLeod, President & CEO; or Rod Shier, Chief Financial Officer at 604 558-4653