Granada Gold Mine closes $723,200 private placement

Apr 4, 2022

2022-04-01 13:07 ET – News Release

Mr. Frank Basa reports

GRANADA GOLD MINE CLOSES $723,200 PRIVATE PLACEMENT

Granada Gold Mine Inc. has closed a non-brokered private placement by way of issuing 12,053,333 units at a price of six cents per unit, raising gross proceeds of $723,200.

Each unit comprises 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 eight cents per share, for a period of three years from closing, subject to TSX Venture Exchange approval.

GloRes Securities Inc. was paid $14,000 in cash and was issued 233,333 finder’s warrants. An additional $15,330 cash and 255,500 finder’s warrants were also paid. The finder’s warrants are on the same terms as the purchaser warrants. The finder’s fees paid in connection with the private placement are subject to exchange approval.

All securities issued are subject to a four-month-and-a-day hold period expiring on Aug. 2, 2022, in accordance with applicable securities laws.

The private placement is subject to final 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.

About Granada Gold Mine Inc.

Granada Gold Mine continues to develop and explore its 100-per-cent-owned Granada gold property near Rouyn-Noranda, Que., which is adjacent to the prolific Cadillac break. The company owns 14.73 square kilometres of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000 metres out of 120,000 metres complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

We seek Safe Harbor.

https://granadagoldmine.com/