Business
Granada Closes Shares for Debt Transaction and Confirms Repricing and Extending Warrants
(TheNewswire) Rouyn Noranda, Quebec, September 6, 2023 - Granada Gold Mine (TSXV: GGM) (&#x...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Granada Closes Shares for Debt Transaction and Confirms Repricing and Extending Warrants\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 Rouyn Noranda, Quebec, September 6, 2023 - Granada Gold\nMine (TSXV: GGM) (“Granada Gold” or the “Company”) announces\nthat further to its news release dated July 25, 2023, the Company has\nclosed the shares for debt transaction (“Transaction) and the\nCompany has issued 2,558,333 common shares at a deemed price of $0.03\nper share to certain creditors to settle $76,750 worth of debt owed to\nthe creditors.  One of the creditors was a related party as one of\nthe principals is a director and officer of the Company.  The related\ncreditor was issued 1,833,333 shares to settle $55,000 worth of\ndebt.\n \n \n \n \n All securities issued in connection with the\nTransaction will be subject to a four‐month expiring on December 25,\n2023 in accordance with applicable Canadian securities laws.\n \n \n \n \n Further to the Company’s news release of August 9,\n2023, the Company confirms it has repriced 3,956,521\n \n \n share purchase warrants (“Warrants”) which were issued in\ntwo tranches pursuant to a private placement that closed on September\n4, 2020. The Warrants have been repriced to $0.05 and have been\nextended to August 27, 2025 (3,043,478 Warrants) and September 4, 2025\n(913,043 Warrants).\n \n \n \n \n The Company has also repriced 5,178,572 Warrants which\nwere issued pursuant to a private placement that closed on September\n27, 2021. The Warrants have been repriced to $0.05 and have been\nextended to September 27, 2025.\n \n \n \n \n The Warrants, as amended, are subject to an accelerated\nexpiry provision such that if for any ten consecutive trading days\n(the “Premium Trading Days”) during the unexpired term of the\nWarrants, the closing price of the Company’s shares on the TSX\nVenture Exchange exceeds $0.0625, representing the amended Warrant\nexercise price of $0.05 plus 25%, the exercise period of the Warrants\nwill be reduced to 30 days, starting seven days after the last Premium\nTrading Day. The Company will announce any such accelerated expiry\ndate by press release. All other terms of the Warrants remain\nunchanged.\n ...