Granada Announces Loan
2875 Ave Granada
Rouyn Noranda, Québec J9Y 1Y1
Tel : 819-797-4144 / Fax: 819-792-2306
November 15, 2017
GRANADA ANNOUNCES LOAN
Granada Gold Mine (TSX.V: GGM) (“Granada”) announces that it has received conditional approval
from the TSX Venture Exchange for a private placement of conver tible secured notes to two parties
for aggregate gross proceeds to Granada of $250,000. The notes will have a term of three years and
bear interest at an annual rate of 8%, payable upon maturity. The holders of the notes will have the
right, at their option, to convert the principal amount of the notes into units at an initial price of
$0.05 per unit. Each unit will consist of one common share of Granada and one common share
purchase warrant. Each warrant will give its holder the right to acquire one additional common
s h a r e o f G r a n a d a a t a p r i c e o f $ 0 . 0 7 5 f o r a p e r i o d o f t w o y e a r s from the date of issuance. The
conversion price of the notes will increase to $0.10 per unit after one year. Holders of the notes will
also have the option to receive p ayment of principal and accrued interest in gold should that option
become feasible while the notes are outstanding. In such event , gold is to be valued at US $800 per
ounce. As security for repayment of the notes, Granada will grant a security interest to the note
holders in its Granada Gold Property. Granada will use the proc eeds from the issuance of the notes
for working capital.
C l o s i n g o f t h e p r i v a t e p l a c e m e n t o f t h e n o t e s i s e x p e c t e d t o t ak e p l a c e t h i s w e e k , s u b j e c t t o t h e
signing of definitive loan agreements. One of the two expected subscribers for the notes is not at
arm’s‐length from Granada.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. (formerly Gold Bullion Development Corp. ) 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
b u i l d i n g s . T h e h i g h l y p r o l i f i c C a d i l l a c T r e n d c u t s t h r o u g h t h e north part of the property. The
Cadillac Trend 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.
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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 cond ucting exploration drilling in order
t o e x p a n d t h e r e p o r t e d m i n e r a l r e s o u r c e f o r t h e p r o p e r t y . A d d i tional 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
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.