12:04 PM EDT, 07/07/2025 (MT Newswires) -- (Updates shares.)

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.

Spanish Mountain shares were last seen down $0.005 to $0.175 on the TSX Venture Exchange.

Price: 0.18, Change: -0.01, Percent Change: -2.78