Granada Gold Mine Announces Dividend Dates
Granada Gold Mine Announces Dividend Dates
ROUYN NORANDA, QC
,
Feb. 11, 2019
/CNW/ - Granada Gold Mine Inc. (TSXV: GGM) (OTCPK:
GBBFF) (Frankfurt: B6D) (the "Company" or "Granada") announces that further to its news release
dated
February 5, 2019
, the Company will be distributing its fourth and final annual dividend of
2,500,000 Canada Cobalt Works Inc. ("Canada Cobalt") units on
February 25, 2019
, to its
shareholders on a pro rata basis with a record date of
February 20, 2019
, subject to TSX Venture
Exchange approval. The Canada Cobalt units to be distributed are subject to applicable withholding
taxes.
Each unit is comprised of one common share in the capital of Canada Cobalt and one common share
purchase warrant, with each warrant entitling the holder to acquire one common share of Canada
Cobalt on or before
September 15, 2019
at an exercise price of
$0.10
per common share.
The distribution of the Canada Cobalt units to the Company's shareholders of record will be
distributed on a pro rata basis in accordance with the following terms:
The 2,500,000 Canada Cobalt units will be distributed on
February 25, 2019
.
The ex-dividend date will be
February 19, 2019
- from this date and forward, new shareholders
will not receive the dividend.
The holder-of-record date will be
February 20, 2019
– the date on which the shareholders who
are to receive the dividend are recognized.
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/February2019/11/c1579.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 11-FEB-19