Granada Gold arranges $1-million private placement

Jan 23, 2018

2018-01-23 02:02 ET – News Release

Mr. Frank Basa reports

GRANADA ANNOUNCES PRIVATE PLACEMENT

Granada Gold Mine Inc. has arranged a non-brokered private placement offering of up to four million units at a price of 25 cents per unit for gross proceeds of up to $1-million. Each unit is composed of one common share of the company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 35 cents per share, for a period of two years from closing, subject to TSX Venture Exchange approval.

Finders’ fees may be paid in connection with the private placement and all finders’ fees payable are subject to exchange approval.

The proceeds of the private placement will be used for surface exploration, trenching and historical resampling of drill core on the company’s Granada gold property in Quebec and for general working capital purposes.

All securities issued in connection with the private placement are subject to a four-month-and-a-day hold period in accordance with applicable securities laws.

About Granada Gold Mine Inc.

Granada Gold Mine is developing the Granada gold property near RouynNoranda, Que. The property includes the former Granada gold mine, which produced more than 50,000 ounces of gold in the 1930s before a fire destroyed the surface buildings. The highly prolific Cadillac trend, which has been the source of more than 50 million ounces of gold produced in the past century on a line running from Val d’Or to RouynNoranda, cuts through the north part of the property.

We seek Safe Harbor.

https://granadagoldmine.com/en/news/2018/