Goldgroup Mining Inc. announced a private placement to issue 12% unsecured convertible debt for the gross proceeds of $400,000 on January 16, 2024. The notes bears 12% interest and matures on 18 months and is convertible into common shares at a conversion price of $0.07453 per share. No commissions or fees are payable in connection with the Convertible Debts. The closing of the Convertible Debts is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange.

On the same date, the company announced that it has issued $100,000 in the first tranche.