Granada Gold Mine announces Date for Dividend Payments
Granada Gold Mine announces Date for
Dividend Payments
ROUYN NORANDA, QC
,
Feb. 5, 2019
/CNW/ - Granada Gold Mine Inc. (TSXV: GGM) (OTCPK:
GBBFF) (Frankfurt: B6D) (the "Company" or "Granada") announces that it will be issuing its fourth
and final annual Canada Cobalt Resources Inc. ("Canada Cobalt") unit dividend to all shareholders
on record, as at
February 25, 2019
, subject to TSX Venture Exchange ("Exchange") approval.
The Company previously announced that it was distributing pro rata, 10,000,000 Canada Cobalt
units received pursuant to a share purchase agreement with Canada Cobalt subject to certain
restrictions, to its shareholders in increments of 2,500,000 annually in 2016, 2017, 2018 and
2019. On
April 26, 2016
, the Company distributed 2,500,000 Canada Cobalt units to its
shareholders. On
February 27, 2017
, the Company distributed 2,500,000 Canada Cobalt units to its
shareholders. On
February 27, 2018
the Company distributed 2,500,000 Canada Cobalt units to its
shareholders.
A follow-up news release will be disseminated setting out the ex-dividend date, holder-of-record
date and distribution date for the 2,500,000 Canada Cobalt units to be issued to
Granada's
shareholders on
February 25, 2019
.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. is continuing to develop 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 at 10 grams per tonne gold in the 1930's before a fire destroyed the surface
buildings. Approximately 120,000 meters of drilling has been completed to date on the property,
focused mainly on the extended LONGBARS zone which trends 2 kilometers east west over a
potential 5.5 kilometers mineralized structure. The highly prolific
Cadillac Trend
, the source of 50
million plus ounces of gold production in the past century, cuts right through the north part of the
Granada
property on a line running from
Val-d'Or
to
Rouyn-Noranda Quebec
.
The Company is in possession of all permits required to commence the initial mining phase known as
the "Rolling Start", which allows the company to mine up to 550 tonnes per day, capable of
producing up to 675,000 tonnes of ore over a 3-year period of time. Additional information is
available at
www.granadagoldmine.com
.
"Frank J. Basa"
Frank J. Basa P. Eng
.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. This news release may contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such statements.
SOURCE
Granada Gold Mine Inc.
View original content:
http://www.newswire.ca/en/releases/archive/February2019/05/c5330.html
%SEDAR: 00004087E
For further information:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne
Cheveldayoff, Corporate Communications, at 416-710-2410 or [email protected]
CO: Granada Gold Mine Inc.
CNW 07:30e 05-FEB-19