VANCOUVER, British Columbia, May 06, 2019 (GLOBE NEWSWIRE) -- Sutter Gold Mining Inc. (“Sutter” or the “Company” TSXV:SGM) announces that its secured lender, RMB Australia Holdings Inc. (“RMB”), has made demand upon the Company, as debtor and guarantor, and its subsidiary, Sutter Gold Mining Inc. (“Sutter”), as debtor and guarantor, for payment in full of the Company’s and Sutter’s outstanding indebtedness to RMB in respect of outstanding notes and demand loans owing. Additionally, notice was provided by RMB of its intention to enforce its security pursuant to the British Columbia Bankruptcy and Insolvency Act. The Company and RMB engaged in an extensive process to market the Company and its assets, but was unable to attract a viable sale transaction that could be completed outside of a court process. A Receiver has not yet been appointed; however, the Company anticipates the appointment of a Receiver in the near term.
Sutter Receives Lender Demand Notice and Intention to Enforce Security
May 07, 2019
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