January 16, 2026 TheNewswire – Granada Gold Mine (TSXV: GGM,OTC:GBBFF) (“Granada Gold” or the “Company”) announces that it has entered into an agreement with certain non-market creditors (collectively, the “Creditors”) to repay indebtedness in an aggregate principal amount of $300,000 through the issuance of 3,000,000 shares of common stock in the capital of the Company (the “Common Shares”) at an assumed price of $0.10 per Common Share (the “Transaction”).
Any shares of common stock proposed to be issued in connection with the transaction will be subject to a holding period of four months and one day, in accordance with applicable Canadian securities laws. Completion of the transaction remains subject to the approval of the TSX Venture Exchange (the “Stock exchange“).
In accordance with Exchange Policy 5.9 and Multilateral Instrument 61-101 — Protection of minority security holders in special transactions (“MI 61-101“), the Transaction constitutes a “related party transaction” in that two of the directors of the Company are also principals of Creditors. The Company is exempt from the formal minority shareholder valuation and approval requirements under MI 61-101, based on the exemptions set out in sections 5.5(a) and 5.7(1)(a) respectively, as the fair market value of the Transaction does not exceed 25% of the market capitalization of the Company.
The company also announced that Christopher Ecclestone has resigned as director of the company. The company thanks Mr. Ecclestone for his contributions and wishes him the best in his future endeavors.
About Granada Goldmine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and adjacent to the prolific Cadillac Break. The company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a major drilling program with 18,000 m of the 120,000 m completed. The exercises are currently paused to give the technical team the necessary time to evaluate existing data, assimilate it and wait for improved market conditions.
The Granada Shear Zone and the South Shear Zone, based on historical detailed maps and based on current and historical drilling, contain up to twenty-two mineralized structures running east to west for five and a half kilometres. Three of these structures were historically mined from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts to 236 m and 498 m with open pit grades of 3.5 to 5 grams per tonne gold (43-101 reference).
The property includes Granada’s former underground gold mine, which produced more than 50,000 ounces of gold at a price of 10 grams per tonne from two shafts in the 1930s before a fire destroyed the above-ground buildings. In the 1990s, Granada Resources collected a bulk sample (Pit #1) of 87,311 tonnes, grading 5.17 g/t Au. They also took a bulk sample (Pit #2) of 22,095 tonnes, grading 3.46 g/t Au. Details available in 43-101 report and on the company’s website: https://granadagoldmine.com/.
For more information please contact:
Frank J. Taal, P.Eng. meberen Professional Engineers Ontario
General manager
P: 416-625-2342
Or:
Wayne Cheveldayoff,
Business communication
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services 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 press release may contain forward-looking statements, including, but not limited to, statements regarding future events and circumstances, which are subject to various risks and uncertainties. Other than statements of historical fact, comments addressing resource potential, upcoming work programs, geological interpretations, receipt and security of mineral title titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those statements. General business conditions are factors that could cause actual results to differ materially from forward-looking statements. Forward-looking statements in this press release may include statements regarding the acceptance of the exchange of the transaction and the completion of the transaction. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, results may vary. The Company undertakes no obligation to update any forward-looking information contained in this press release or other communications except as required by law.
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