NEWS RELEASE TRANSMITTED BY MARKETWIRE
FOR: Grandview Gold Inc.
TSX SYMBOL: GVX
OTC Bulletin Board SYMBOL: GVGDF
December 8, 2011
Grandview Gold Inc. Announces the Appointment of Mr. Carmello Marrelli as CFO
and the Extension of the Expiry Date of Certain Outstanding Common Share
Purchase Warrants
TORONTO, ONTARIO--(Marketwire - Dec. 8, 2011) - Grandview Gold Inc.
(TSX:GVX)(OTCBB:GVGDF) ("Grandview" or the "Company") is
pleased to report the appointment of Mr. Carmello Marrelli, B.Com, CA, CGA, to
the position of Chief Financial Officer of Grandview Gold Inc.
"We are very pleased to formalize our relationship with Carmello and
welcome him to our management team," says Grandview President and CEO Paul
Sarjeant. "Carmello has been providing accounting and bookkeeping services
to the Company for some time now, so he brings with him considerable Grandview
experience and knowledge."
The Company wishes to thank outgoing CFO, Mr. Ernest M. Cleave for his years of
excellent and committed service to Grandview. Mr. Cleave is also the Vice
President and CFO of Cline Mining Corporation, an in-production coal mining
company that requires his full-time commitment.
Mr. Carmello Marrelli holds a Bachelor of Commerce degree from the University
of Toronto and is a qualified Chartered Accountant and Certified General
Accountant. Mr. Marrelli is currently President of Marrelli Support Services, a
bookkeeping firm based in Toronto, Ontario.
Extension of Warrants
Grandview is also pleased to announce that it has extended the term of the
26,666,665 warrants issued by the Company on December 3, 2009 (the
"Warrants"). The Warrants, which were scheduled to expire on December
3, 2011, will now expire on December 3, 2012. As a number of the Warrants are
held by insiders of the Company, final approval of the Toronto Stock Exchange
for the extension of the Warrants was contingent upon receipt by the Company of
the approval of "disinterested" shareholders. The Company received
such "disinterested" shareholder approval at its annual and special
meeting which was held on November 28, 2011.
The Warrants were issued as part of a private placement of the Company's
that was completed on December 3, 2009. For further information on the original
issuance of the Warrants, please refer to the press release of the Company
dated December 8, 2009 filed on SEDAR.
Warrantholders are advised that replacement Warrant certificates will not be
issued and that the original Warrant certificates must be presented to the
Company, as warrant agent, in order to effect the exercise or transfer of such
Warrants.
About Grandview Gold Inc.
Grandview is a gold exploration company focused on creating value for
shareholders by balancing sustainable small-scale mine development and gold
production, with traditional major gold camp exploration. Details of
Grandview's projects are available on the Company's website.
This document may contain forward looking statements, relating to the
Company's operations or the environment in which it operates, which are
based on Grandview Gold Inc's operations, estimates, forecasts and
projections. These statements are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict, and/or beyond
Grandview Gold Inc's control. A number of important factors could cause
actual outcomes and results to differ materially from those expressed in these
forward-looking statements. Consequently, readers should not place undue
reliance on such forward-looking statements. Grandview Gold Inc. disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.