Gran Colombia Announces Details for the Forthcoming Quarterly Repayment
Gran Colombia Announces Details for the Forthcoming Quarterly Repayment
of Its Gold Notes on April 30, 2020
TORONTO, April 15, 2020 -- 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: April 30, 2020
Record date: April 23, 2020
Cash payment
amount:
Approximately US$0.10493519 per US$1.00 principal amount of Gold Notes representing an
amortization payment of the principal amount issued and outstanding of approximately
US$0.07632094 per US$1.00 principal amount of Gold Notes and a gold premium of approximately
US$0.02861425 per US$1.00 principal amount of Gold Notes. Based on the London P.M. Fix on
April 15, 2020 of US$1,718.65 per ounce, the aggregate amount of the cash payments on the
Payment Date will be US$4,691,915, of which US$3,412,500 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$44,712,500 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$41,300,000.
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 high-grade Segovia Operations. Gran Colombia
owns approximately 74% of Caldas Gold Corp., a Canadian mining company currently advancing a prefeasibility study for a
major expansion and modernization of its underground mining operations at its Marmato Project in Colombia. Gran Colombia’s
project pipeline includes its Zancudo Project in Colombia together with an approximately 21% equity interest in Gold X Mining
Corp. (TSXV: GLDX) (Guyana – Toroparu) and an approximately 20% equity interest in Western Atlas Resources Inc.
(“Western Atlas”) (TSX-V: WA) (Nunavut – Meadowbank).
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 30,
2020 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