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Financings

Granada Gold arranges $2.5-million private placement

By The Northwire Desk — AI Analysis Jan 30, 2026 · 18:26 GGM · 0.08 Granada Gold Mine Inc.
GGM · Price

Executive Summary

  • Granada Gold Mine Inc. has arranged a non-brokered private placement to raise gross proceeds of up to $2.5 million.
  • The offering consists of up to 50 million units priced at $0.05 per unit, with net proceeds designated for resource updates, exploration, and general corporate purposes.
  • The release includes an updated mineral resource estimate for the Granada gold project, detailing specific tonnage and grade figures for measured, indicated, and inferred categories.

Key Details

  • Financing Structure: Non-brokered private placement raising up to $2.5 million in gross proceeds.
  • Units Issued: Up to 50,000,000 units at a price of $0.05 per unit.
  • Warrant Terms: Each unit includes one common share and one common share purchase warrant. Warrants allow the purchase of one common share at $0.075 per share for a period of five years from issuance.
  • Use of Proceeds: Resource update, exploration, and general corporate purposes for the Granada gold property near Rouyn-Noranda, Que.
  • Hold Period: All securities are subject to a four-month-and-one-day hold period under Canadian securities laws.
  • Regulatory Conditions: Completion is subject to regulatory approvals, including TSX Venture Exchange approval.
  • Mineral Resource Estimate (Effective June 23, 2022):
    • Measured and Indicated: 543,000 ounces of gold (8.22 million tonnes at an average grade of 2.05 g/t Au) at a base case cut-off grade of 0.55 g/t Au (pit-constrained).
    • Inferred: 456,000 ounces of gold (3.01 million tonnes at an average grade of 4.71 g/t Au) at a base case cut-off grade of 2.5 g/t Au (underground).
  • Operational Status: The company is undergoing a large drill program with 20,000 metres out of 120,000 metres complete. Drills are currently paused to evaluate data and wait for improved market conditions.
  • Historical Production: The former underground mine produced over 50,000 ounces of gold at 10 g/t in the 1930s. Historical bulk samples in the 1990s yielded 87,311 tonnes at 5.17 g/t Au and 22,095 tonnes at 3.46 g/t Au.
Read the original news release →

More from Granada Gold Mine Inc.

Oct 07, 2026 · 11:35

Granada filed a permit application for planned drilling at its project, with the resource update already priced in.

Resource Estimate Aug 07, 2026 · 17:15

Granada files a formal NI 43-101 report for its June resource update, confirming no new data has been added to the deposit.

Resource Estimate Jul 30, 2026 · 17:00

Granada’s debt-to-royalty swap cleans its balance sheet but adds long-term production drag.

Financings Jul 15, 2026 · 13:00

Granada’s conference pitch follows its June update, with a technical report and permitting drive serving as key catalysts for the project.

Resource Estimate Jun 30, 2026 · 07:30

Granada’s updated resource grew 64% as it advances gravity concentration permitting, though cash constraints threaten a rolling start.

Resource Estimate Jun 23, 2026 · 09:00

Granada’s resource expansion validates price assumptions while capital constraints loom for the project.

Resource Estimate