08:34 AM EDT, 06/26/2025 (MT Newswires) -- Getchell Gold ( GGLDF ) said overnight Wednesday that it closed the final tranche of its debenture conversion, achieving a total conversion rate of 93.7%.

Getchell said it converted outstanding debentures in the principal amount of $475,000, together with accrued interest of $69,953.20 into units of the company.

The company said it has converted a total of about $4.1 million in principal debenture.

"The almost complete reduction of debt dramatically improves the company's financial foundation and its attractiveness for investment," said Bob Bass, Getchell's chairman.

Getchell said it is now positioned for significant growth, citing the recent close of a $4 million financing, an upcoming drill program at the Fondaway Canyon gold project in Nevada, and a robust gold market.

Getchell's share price closed 4.4% higher on Wednesday to $0.24 on the CSE.