Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) announces that it held a second and final closing of its previously-announced private placement by issuing 3,405,000 additional "flow-through" units at a price of $0.18 per unit, for gross proceeds to Gold Bullion of $612,900. Gold Bullion issued the "flow-through" units to "accredited investors" in Ontario, and will use the proceeds for exploration on its Granada Property near Rouyn-Noranda, Québec.
As a result of the second closing, Gold Bullion raised total proceeds of $4,967,600 in the private placement.
Each of the 3,405,000 "flow-through" units issued at the second closing is comprised of one common share and one-half of a common share purchase warrant. Each full warrant entitles its holder to acquire one additional common share of Gold Bullion at a price of $0.22 for twelve months.