News out on Royalty program Gold Bullion Development Corp. - Shareholder Gold Royalty Program
VANCOUVER, April 11, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to provide an update with respect to its proposed Shareholder Gold Royalty Program.
The Shareholder Gold Royalty is being developed so that Gold Bullion shareholders can participate in the security of gold ownership. The proposed Shareholder Gold Royalty is intended to allow Gold Bullion shareholders to receive a dividend payable in gold on a pro rata basis, based on the number of Gold Bullion shares held on the dividend record date. Shareholders who do not have a gold metal account or for other reason may not be able to receive the physical metal will be able to receive their dividend in Canadian dollars.
Gold Bullion intends to implement the Shareholder Gold Royalty if and when the Granada Gold Mine enters into production. The Shareholder Gold Royalty will be for the life of the Granada Gold Mine for all current resources, and for other resources that may be discovered through further exploration. Gold Bullion cannot guarantee that the Granada Gold Mine will enter into production or that the proposed Shareholder Gold Royalty will be implemented. The proposed Shareholder Gold Royalty replaces the Shareholder Gold Purchase Program outlined in Gold Bullion's news release dated June 4th, 2008, and is part of Gold Bullion's forward-looking policy of ensuring shareholder value. Gold Bullion will inform shareholders of the details of the Shareholder Gold Royalty as the program is developed.