PureGold Suspends Operations
If additional outside financing is not obtained in the short term, PureGold will not be able to meet its obligations as they become due, resulting in a default under its debt obligations. The company said it continues to work collaboratively with its lender, a fund managed by Sprott Resource Lending Corp., to evaluate several near-term funding and strategic alternatives. This process will include evaluation of all available options, including possible sale or restructuring scenarios.