Source: Spanish Mountain Gold.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Spanish Mountain (SPA) has secured C$1.4M in funding to advance its Spanish Mountain Gold Project in B.C.
  • The company reached a settlement agreement with the Canada Revenue Agency in relation to the mining exploration tax credit tied to exploration expenses on the project
  • It expects to receive the funds during the fiscal year for 2021
  • Spanish Mountain Gold is focused on advancing its 100-per-cent-owned Spanish Mountain Gold Project in southern central British Columbia
  • Spanish Mountain Gold (SPA) is up by 10.87 per cent and is currently trading at $0.255 per share

Spanish Mountain (SPA) has secured C$1.4M in funding to advance its Spanish Mountain Gold Project in B.C.

The company reached a settlement agreement with The Department of Justice representing The Canada Revenue Agency relating to the mining exploration tax credit (METC) tied to exploration expenses on the project.

It expects to receive the funds during the 2021 fiscal year.

The funding is in addition to $1,034,744 the company received this year from exercised options and warrants.

The parties reached a similar settlement in 2016 resulting in a $3.9 million payout related to several years of tax credits.

“I am particularly pleased with another success in the METC appeal which represents a source of project funding without stock dilutions, debt or sale of assets,” stated Larry Yau, Spanish Mountain Gold’s CEO. “Once again, our hard work and persistence have paid off for our shareholders. We will maintain our practice of allocating maximum resources to advance our project.”

Spanish Mountain Gold is focused on advancing its 100-per-cent-owned Spanish Mountain Gold Project in southern central British Columbia. 

Spanish Mountain Gold (SPA) is up by 10.87 per cent and is currently trading at $0.255 per share as of 9:46 am EST.

More From The Market Herald

" Summa Silver (TSXV:SSVR) upsizes private placement

Summa Silver Corp. (SSVR) has upsized its brokered private placement offering for gross proceeds of up to $10 million.
Novo Resources

" Novo (TSX:NVO) receives high-grade assays from Parnell-Vulture Trend

Novo Resources Corp. (NVO) has provided updates on the Parnell-Vulture trend on the Nullagine Gold Project in Western Australia.

" K2 (TSXV:KTO) appoints Anthony Margarit as President and Director

K2 Gold Corporation (KTO) has appointed Anthony Margarit to join K2 as President and Director.
Advance United - David Boulette, Board member

" Technology veteran David Boulette appointed to Advance United’s Board of Directors

Advance United Holdings Inc. (AUHI) has appointed veteran David Boulette to its Board of Directors.