Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) has successfully closed a private placement financing for $200,000 through the issuance of Quebec Flow-Through (QFT) shares. The proceeds will be utilized for exploration activities on the Company's Granada Gold Property near Rouyn-Noranda, Quebec.
Granada Gold Mine Inc. announces that the Company has closed a Quebec Flow-Through private placement financing raising gross proceeds of $200,000. The Company has issued 5,714,286 QFT shares at a price of $0.035 per QFT share, subject to final TSX Venture Exchange approval.
Each finder warrant is exercisable at $0.05 per share for three years from closing. The finder’s fees paid in connection with the private placement are subject to Exchange approval. The proceeds of the QFT private placement will be used for the Company’s Granada Gold Property, near Rouyn-Noranda, QuebecGranada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.
FINANCE MINING EXPLORATION QUEBEC GRANADA GOLD MINE
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