Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) announces that it has raised gross proceeds of $2,434,560 at a first closing of its previously-announced private placement by issuing 16,231,066 “flow-through” units at a price of $0.15 per unit. Gold Bullion issued the securities to “accredited investors” in British Columbia and Ontario.