06:42 AM EDT, 07/07/2025 (MT Newswires) -- Spanish Mountain Gold ( SPAUF ) late on Friday said it signed a debt settlement agreement with arm's length creditor Whittle Consulting to settle $379,720 in outstanding debt.

The debt relates to past services rendered by Whittle to Spanish Mountain. To settle the debt, the company will pay Whittle $14,320 in cash and issue 2.1 million Spanish Mountain common shares at $0.1731 per share.

Closing of the debt settlement is subject to customary closing conditions, including approval from the TSX Venture Exchange.