Granada Gold Mine Enters Into Two Debt Conversion Agreements In An Aggregate Amount Of $4 Million

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Granada Gold Mine Enters Into Two Debt Conversion Agreements In An Aggregate Amount Of $4 Million (TheNewswire)    Rouyn-Noranda, QC, July 30, 2026 – TheNewswire - Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the “Company” or “Granada”) announces that it has entered into Debt Conversion Agreements with Nord Precious Metals Mining Inc. (“Nord”) and Mineral Recovery Management Systems Corp. (“MRMS”), respectively, whereby the Company will convert an aggregate amount of $4 million in debt to an aggregate 4% net smelter return royalty (“NSR”) on the Company’s Granada Gold Property near Rouyn-Noranda, Quebec. The Debt Conversion Agreement and related Net Smelter Return Royalty Agreement between the Company and Nord provide that $3 million owing by the Company to Nord will be extinguished in exchange for a 3% NSR on the Granada Gold Property. Granada may repurchase the 3% NSR for $3 million in either one lump-sum amount or in one or more tranches of $1 million, which will each represent a repurchase of 1% of the NSR. The Debt Conversion Agreement and related Net Smelter Return Royalty Agreement between the Company and MRMS provide that $1 million owing by the Company to MRMS will be extinguished in exchange for a 1% NSR on the Granada Gold Property. Granada may repurchase the 1% NSR for $1 million in cash. Related Party Transaction MRMS is a private company controlled by Frank J. Basa, President, Chief Executive Officer and a director of Granada. The Debt Conversion Agreement and related Net Smelter Return Royalty Agreement between Granada and MRMS are therefore a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction between Granada and MRMS is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in that the fair market value of the consideration, being $1 million, is less than 25% of Granada’s market capitalization. The transaction between Granada and Nord is not a “related party transaction” within the meaning of MI 61-101. Nord is a “Non Arm’s Length Party” t...

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