Granada Amends Shares for Debt

About this update from Granada Gold Mine Inc.

[{"type":"text","content":"Granada Amends Shares for Debt\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n TheNewswire -\n \n \n May 26, 2023 -\n \n \n Granada Gold Mine\n \n \n (TSXV:GGM)\n \n \n (“\n \n \n Granada Gold\n \n \n ” or\nthe “\n \n \n Company\n \n \n ”) announces that further to its news release dated\nDecember 2, 2022, Granada has reached an agreement with a third party\nto repay the debt in the amended amount of $286,482.67 through the\nissuance of 5,729,654 shares in the capital of the Company at a deemed\nprice of $0.05 per share.  The shares for debt transaction remains\nsubject to the acceptance from the TSX Venture Exchange.\n \n \n \n \n All securities issued in connection with the shares for\ndebt transaction will be subject to a four‐month and a day hold\nperiod in accordance with applicable Canadian Securities Laws.\n \n \n \n \n About Granada Gold Mine Inc.\n \n \n \n \n Granada Gold Mine Inc. continues to develop and explore\nits 100%-owned Granada Gold Property near Rouyn-Noranda, Quebec, and\nis adjacent to the prolific Cadillac Break. The Company owns 14.73\nsquare kilometers of land in a combination of mining leases and\nclaims. The Company is currently undergoing a\n \n \n large drill program with 30,000 meters (2020-2021) out of\n120,000 meters complete. The drills are currently paused to provide\nthe technical team the necessary time to evaluate and assimilate\nexisting data.\n \n \n \n \n The Granada Shear Zone and the South Shear Zone\ncontain, based on historical detailed mapping as well as from current\nand historical drilling, up to twenty-two mineralized structures\ntrending east-west over five and a half kilometers. Three of these\nstructures were mined historically from four shafts and three open\npits. Historical underground grades were 8 to 10 grams per tonne gold\nfrom two shafts down to 236 meters and 498 meters with open pit grades\nfrom 3.5 to 5 grams per tonne gold.\n \n \n \n \n Mineral Resource Estimate\n \n \n \n \n The mineral resources of the PFS are inclusive of the\n2022 Mineral resource update. On August 20, 2022 the Company released\nan updated NI 43-101 technical report supporting the resource estimate\nupdate for the Granada Gold project (Please see July 6, 2022 news...

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