Granada Gold Mine closes $500,000 private placement

Dec 22, 2018

2018-12-21 14:58 ET – News Release

Mr. Frank Basa reports

GRANADA CLOSES FLOW-THROUGH PRIVATE PLACEMENT

Granada Gold Mine Inc. has closed a flow-through private placement financing, raising gross proceeds of $500,000. The company has issued 2,631,579 flow-through shares at a price of 19 cents per flow-through share, subject to TSX Venture Exchange approval.

Finders’ fees totalling $35,000 and 200,000 finders’ warrants were paid and issued in connection with the financing. Each finder’s warrant is exercisable at 15.5 cents per share for two years from closing. The finders’ fees paid in connection with the private placement are subject to exchange approval.

All securities issued in connection with the private placement are subject to a four-month-and-one-day hold period expiring on April 22, 2019, in accordance with applicable securities laws.

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

About Granada Gold Mine Inc.

Granada Gold Mine (formerly Gold Bullion Development Corp.) is developing the Granada gold property near Rouyn-Noranda, 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 cuts through the north part of the property.

Granada Gold Mine has obtained all necessary permits for the initial mining phase, known as the rolling start, for which stripping has already begun, and has been conducting exploration drilling in order to expand the reported mineral resource for the property.

We seek Safe Harbor.

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