Business
Granada Closes Shares for Debt Transaction
(TheNewswire)    January 20, 2026 – TheNewswire - Granada Gold Mine Inc....
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Granada Closes Shares for Debt Transaction\n(TheNewswire)\n  \n\nJanuary 20, 2026 – TheNewswire\n- Granada Gold Mine Inc. (TSXV: GGM)\n(“Granada Gold” or the “Company”) announces that further to its news\nrelease dated January 16, 2026, the Company has closed the shares for\ndebt transaction and the Company has issued 3,000,000 common shares at\na deemed price of $0.10 per share to certain non-arm’s length\ncreditors to settle $300,000 worth of debt owed to the\ncreditors.\n\n \n\nAll securities issued in connection with the shares for\ndebt transaction will be subject to a four‐month and a day hold\nperiod expiring on May 21, 2026 in accordance with applicable Canadian\nsecurities laws.  \n\n \n\nAbout Granada Gold Mine Inc.\n\n \n\nGranada 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 large drill program with 18,000m out of 120,000m complete.\nThe drills are currently paused to provide the technical team with the\nnecessary time to evaluate, assimilate existing data and wait for\nimproved market conditions. \n\n \n\nThe 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 m and 498 m with open pit grades from 3.5\nto 5 grams per tonne gold (43-101 reference).\n\n \n\nThe property includes the former Granada Gold\nunderground mine which produced more than 50,000 ounces of gold at 10\ngrams per tonne gold in the 1930’s from two shafts before a fire\ndestroyed the surface buildings.  In the 1990s, Granada Resources\nextracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.\n They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading\n3.46 g/t Au.  Details available in 43-101...