Gran Colombia Announces Details for the Forthcoming Quarterly Repayment
Gran Colombia Announces Details for the Forthcoming Quarterly Repayment
of Its Gold Notes on October 31, 2019 and the Third Quarter 2019 Results
Webcast
TORONTO, Oct. 16, 2019 -- Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today the details for the
forthcoming quarterly repayment of its 8.25% Senior Secured Gold-Linked Notes due 2024 (the “Gold Notes”) (TSX:
GCM.NT.U) as follows:
Payment date: October 31, 2019
Record date: October 24, 2019
Cash payment
amount:
Approximately US$0.0788104 per US$1.00 principal amount of Gold Notes representing an
amortization payment of the principal amount issued and outstanding of approximately US$0.0662139
per US$1.00 principal amount of Gold Notes and a gold premium of approximately US$0.0125965 per
US$1.00 principal amount of Gold Notes. Based on the London P.M. Fix on October 15, 2019 of
US$1,487.80 per ounce, the aggregate amount of the cash payments on the Payment Date will be
US$5,802,420, of which US$4,875,000 will be applied to reduce the aggregate principal amount of the
Gold Notes issued and outstanding and the balance represents the Gold Premium.
Principal amount
issued and
outstanding:
As of today’s date, there is a total of US$73,625,000 principal amount of Gold Notes issued and
outstanding. After this quarterly repayment, the aggregate principal amount of the Gold Notes will be
reduced to US$68,750,000.
Third Quarter 2019 Results Webcast
Gran Colombia also announced today that it will release its financial results for the third quarter of 2019 after market close on
Thursday, November 14, 2019 and will host a conference call and webcast on Friday, November 15, 2019 at 9:30 a.m. Eastern
Time to discuss the results.
Webcast and call-in details are as follows:
Live Event link: https://edge.media-server.com/mmc/p/b2a92m8q
International: 1 (514) 841-2157
North America Toll Free: 1 (866) 215-5508
Colombia Toll Free: 01 800 9 156 924
Conference ID: 49120998
A replay of the webcast will be available at www.grancolombiagold.com from Friday, November 15, 2019 until Friday,
December 13, 2019.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest
underground gold and silver producer with several mines in operation at its Segovia and Marmato Operations. Gran Colombia is
continuing to focus on exploration, expansion and modernization activities at its high-grade Segovia Operations.
Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its
profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect
repayment of the Gold Notes. Often, but not always, forward-looking statements can be identified by the use of words such as
"plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or
variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to
be materially different from any future results, performance or achievements expressed or implied by the forward-looking
statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking
statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 27,
2019 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of
the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's
estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653