GRANADA ANNOUNCES CONSOLIDATION AND POST-CONSOLIDATED FINANCING announces that in order for Granada to better finance the Company, the Board of Directors have approved and authorize a consolidation of the Company's issued and outstanding share capital on
2875 Ave Granada
Rouyn Noranda, Québec J9Y 1Y1
Tel : 819-797-4144 / Fax: 819-792-2306
GRANADA ANNOUNCES CONSOLIDATION AND
POST-CONSOLIDATED FINANCING
N o v e m b e r 2 4 , 2 0 1 7 , G r a n a d a G o l d M i n e ( T S X . V : G G M ) ( “ G r a n a d a G o ld” or the “Company”)
announces that in order for Granada to better finance the Company, the Board of Directors have
approved and authorize a consolidation of the Company's issued and outstanding share capital on
a n e i g h t o l d c o m m o n s h a r e s f o r e v e r y o n e n e w c o m m o n s h a r e b a s i s (8:1), consolidating its
388,630,682 currently outstanding shares to 48,578,835 shares.
The Company will not be issuing fractional shares as a result of the consolidation. Instead, all
fractional shares equal or great er to one‐half will be rounded t o t h e n e x t w h o l e s h a r e . T h e
Company's outstanding stock options and share purchase warrants w i l l b e a d j u s t e d u p o n
completion of the consolidation.
T h e C o m p a n y d o e s n o t i n t e n d t o c h a n g e i t s n a m e o r s e e k a n e w s tock trading symbol from the
Exchange in connection with the Consolidation. The Company’s sh ares will continue to trade under
the symbol “GGM”. The consolidat ion remains subject to the acc eptance by the TSX Venture
Exchange (“Exchange”).
A letter of transmittal will be s ent to the registered sharehol ders providing instructions to
surrender the share certificates evidencing their pre‐consolida ted common shares for replacement
certificates of Granada Gold Min e Inc. representing the number of post‐consolidated common
shares they are entitled to as a result of the consolidation. Until surrendered, each certificate
representing the pre‐consolidated common shares will be deemed to represent the number of post‐
consolidated common shares of Granada Gold Mine Inc. that the holder thereof is entitled to as a
result of the consolidation.
In connection with the 8:1 rollback, the Company also announces a non‐brokered private placement
offering of 2,000,000 flow through shares at a price of $0.35 per post‐consolidated flow through
share, for gross proceeds of $700,000.
Finder’s fees will be paid in connection with the private place ment and all finder’s fee payable are
subject to the acceptance of the Exchange.
The proceeds of the Private Placement will be used for surface exploration, trenching, and historical
resampling of drill core on the Company’s Granada Gold Property in Québec.
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All securities issued in connection with the private placement are subject to a four month and a day
hold period in accordance with applicable Securities Laws.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. is developing the Granada Gold Property near Rouyn‐Noranda, Quebec. The
property includes the former Granada gold mine which produced more than 50,000 ounces of gold
in the 1930’s before a fire destroyed the surface buildings. The highly prolific Cadillac Trend, which
has been the source of more than 50 million ounces of gold produced in the past century on a line
running from Val‐d’Or to Rouyn‐Noranda, cuts through the north part of the property.
An updated Mineral Resource Estimate and revised Block Model dated June 30, 2017, with effective
date of May 16, 2017, includes the first material estimate of high‐grade gold resources discovered
in zones at depth immediately north of the LONG Bars Zone open‐pit deposit.
An initial Inferred underground resource of 10,386,500 tonnes grading 4.56 g / t A u a t a c u t ‐ o f f
grade of 1.5 g / t (1.5 m i l l i o n o z . A u ) h a s b e e n o u t l i n e d a l o n g 600 m e t e r s o f s t r i k e , n o r t h o f t h e
original near‐surface discovery at Granada. Open‐pit‐constrained resources have 625,000 ounces
Measured at 1.14 g/t Au and 182,700 ounces Indicated at 1.26 g/t Au with a cut‐off grade of 0.39
g/t Au (807,700 o u n c e s M & I a t 1.16 g/t Au) representing a major increase in Block Model
estimates for Granada vs. 2012 Block Model.
The Company has obtained all necessary permits for the initial mining phase known as the “Rolling
Start” for which stripping has already begun, and has been conducting exploration drilling in order to
expand the reported mineral resource for the property. Addition al information is available at
www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
For further information, please contact:
Frank J. Basa, P. Eng., President and CEO at 1‐819‐797‐4144 or
Wayne Cheveldayoff, Investor Relations, at 416‐710‐2410 or [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Pro vider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the ade quacy or accuracy of this release. This news
release may contain forward‐looking statements including but no t limited to comments regarding the timing
and content of upcoming work pro grams, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. F o r w a r d ‐ l o o k i n g s t a t e m e n t s a d dress future events and conditions and
therefore, involve inherent risks and uncertainties. Actual res ults may differ materially from those currently
anticipated in such statements.