Granada Gold Mine Inc. (TSXV: GGM) (the "Company" or "Granada") announces that the Company has closed a non-brokered private placement by way of issuing 5,454,546 flow-through units ("FT Units") at a price of $0.11 per FT Unit raising gross proceeds of $600,000.06.

Each FT Unit is comprised of one flow-through common share of the Company and one half of one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.15 per share, for a period of two years from closing, subject to TSX Venture Exchange ("Exchange") approval. 

The proceeds of the FT Unit Private Placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company's Granada Gold Property in Québec.

All securities issued in connection with the private placement will be subject to a four‐month and a day hold period expiring on April 22, 2022 in accordance with applicable Canadian Securities Laws.

About Granada Gold Mine Inc.

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec which is 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 large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.