Mr. Frank Basa reports
GRANADA GRANTS STOCK OPTIONS & AMENDS EXISTING STOCK OPTIONS
Granada Gold Mine Inc. has granted stock options to its directors, officers, employees and
consultants to purchase an aggregate of 1.7 million common shares in the capital of the company.
The stock options are exercisable for a term of five years at an exercise price of 30 cents per share. All
stock options are granted in accordance with the terms of the company's stock option plan and the
policies of the TSX Venture Exchange and will be subject to a hold period of four months and one
The company wishes to reprice an aggregate of 1,037,500 stock options previously granted at prices
ranging between 48 cents and $1.04 per share to an amended price of 30 cents per share. The
amendment to the stock option exercise price is subject to the approval of the TSX Venture Exchange. Of the aggregate stock options to be amended, 356,250 of the options were granted to
insiders of the company and will also require disinterested shareholder approval, which will be
sought at the coming annual general and special meeting of the company. The amended insider
options are not exercisable at the amended price until all required approvals have been obtained.
Upon amendment, the options will be exercisable for the balance of their original term.
About Granada Gold Mine Inc.
Granada Gold Mine is developing the Granada gold property near Rouyn-Noranda, Que. The
property includes the former Granada gold mine, which produced more than 50,000 ounces of gold in
the 1930s 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 northern part of the property.
We seek Safe Harbor.
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