Business
Gold Bullion Closes Non-Brokered Private Placement and Retains Marketing and Investors Relations Consultants
(via Thenewswire.ca) Vancouver, BC / TNW-ACCESSWIRE / September 4, 2014 / Gold Bullion...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Gold Bullion Closes Non-Brokered Private Placement and Retains Marketing and Investors Relations Consultants(via Thenewswire.ca)\n\n \nVancouver, BC / TNW-ACCESSWIRE / September 4, 2014 / Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (\"Gold Bullion\" or the \"Company\") is pleased to announce that it has closed a non-brokered private placement financing (\"Private Placement\") by the issuance of 18,091,019 flow-through units (\"FT Units\") at a purchase price of CDN $0.065 per FT Unit and 6,952,698 non-flow-through units (\"NFT Units\") at a purchase price of $0.05 per NFT Unit for gross proceeds of $1,523,551. Each FT Unit consists of one flow-through common share in the capital of the Company and one-half of a non-transferable share purchase warrant, each whole warrant entitling the holder to purchase one non-flow-through common share in the capital of the Company on or before September 6, 2016, at a purchase price of $0.10 per share. Each NFT Unit consists of one non-flow-through common share in the capital of the Company and one transferable share purchase warrant, each warrant entitling the holder to purchase one non-flow-through common share in the capital of the Company on or before September 6, 2016, at a purchase price of $0.10 per share.\n\n \n \nIn connection with the Private Placement a director of the Company arranged a sale of 1,500,000 common shares of the Company at a price of $0.05 per share in a private transaction. The proceeds of this sale were used by the director's spouse to purchase an equivalent dollar amount of NFT Units in the Private Placement. The director also subscribed for an additional 438,461 FT Units in the Private Placement.\n\n \n \nThe Company paid cash finders' fees totalling $73,255.80 in connection with the Private Placement.\n\n \n \nAll securities issued by the Company pursuant to the Private Placement are subject to a hold period of four months and one day and cannot be resold until January 5, 2015.\n\n \n \nProceeds of the Private Placement will be used for stripping and trenching on its Granada Gold Property in Quebec in preparation of its \"Rolling Start\" and for general working capital.\n\n\n \nMarketing and Investor Relations\n\n\n \nGold Bullion also announces the engagement of two consultants to provide marketing and investor services. \n\n\n \nPalisade Capital Co...