Granada Closes Shares for Debt Transaction

Executive Summary

• Granada Gold Mine Inc. closed a share‑for‑debt transaction, issuing 3 million common shares at $0.10 per share to settle $300,000 of debt owed to non‑arm’s length creditors.
• The issued securities are subject to a four‑month‑plus hold period that expires on May 21 2026 under Canadian securities law.
• The financing clears a modest liability and provides the company with additional equity capital while preserving cash for ongoing exploration activities.

Key Details

• Transaction Structure: Share‑for‑debt swap; 3,000,000 common shares issued at a deemed price of $0.10 per share.
• Consideration: Settlement of $300,000 debt owed to the participating creditors.
• Gross Proceeds (equivalent): $300,000 (value of debt extinguished).
• Hold Period: All securities issued are subject to a four‑month and one‑day hold period, expiring May 21 2026.
• Purpose / Use of Funds: Debt elimination improves balance sheet; no additional cash proceeds were generated, allowing the company to retain liquidity for its ongoing 120,000 m drill program (18,000 m completed).
• Company Context: Granada Gold continues exploration on its 100% owned Granada Gold Property in Quebec, with historic grades of 8‑10 g/t Au underground and 3.5‑5 g/t Au open pit.

Notable Quotes

(No direct quotes were provided in the release.)