Grandview Gold Inc.
OTC Bulletin Board : GVGDF

Grandview Gold Inc.

July 06, 2007 15:50 ET

Grandview Gold Inc. Announces $3.45 Million Financing

TORONTO, ONTARIO--(Marketwire - July 6, 2007) - Grandview Gold Inc. ("Grandview") (TSX:GVX)(OTCBB:GVGDF) is pleased to announce that it has closed the brokered private placement (the "Brokered Placement") with Bolder Investment Partners, Ltd. (the "Agent") previously announced on May 23, 2007. The Brokered Placement resulted in the issuance by Grandview of a total of 8,589,000 units in the capital of Grandview (the "Units") at a purchase price of $0.40 (CAD) per Unit for gross proceeds of $3,435,600 under the Brokered Placement. Each Unit consists of one common share of Grandview and one-half of one common share purchase warrant ("Warrant"). Each whole Warrant is exercisable to acquire one further common share of Grandview at a price of $0.65 (CAD) for a period of 24 months from closing.

In connection with the Brokered Placement, Grandview paid a cash fee to the Agent of 8% of the gross proceeds raised under the Brokered Placement and also issued broker options to acquire 8% of the total number of Units issued under the Brokered Placement at a price of $0.40 per Unit for a period of 24 months from closing. In addition, Grandview also paid a cash work fee of $7,500 for certain services of the Agent.

Grandview is also pleased to announce that it also closed a non-brokered placement on the same terms as the Brokered Placement for an additional 125,000 Units and further proceeds of $50,000.

The proceeds from this financing will be used primarily to fund Grandview's drilling program on its Pony Creek/Elliott Dome property in Nevada, and also its Red Lake projects in Ontario and Rice Lake projects in Manitoba, as well as working capital and general corporate purposes.

This is not an offer for sale, or a solicitation of an offer to buy, in the United States or to any US Person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act") of any equity shares or any other securities of Grandview Gold Inc. Securities ("securities") of Grandview Gold Inc. are traded on the Toronto Stock Exchange (TSX) and on the OTC BB. This does not constitute, and should not be construed as, "general solicitation or general advertising" as defined under Regulation D of the Securities Act, or "directed selling efforts" under Regulation S of the Securities Act.

Contact Information