Uncategorized

Gran Colombia Announces Proposed Issuance of Up to US$152 Million of Units to Improve Its Capital Structure and Reduce Potential Dilution of Common Shares

 

 

 

 

 

Gran Colombia Gold Corp. (TSX:GCM) announced today that it has determined to offer for sale, on a best efforts private placement basis, up to 152,000 units of the Company for anticipated aggregate gross proceeds of up to US$152,000,000. Each Unit is expected to consist of US$1,000 principal amount of senior secured gold-linked notes and a number of common share purchase warrants of the Company to be determined based on market conditions.  The Company has retained GMP Capital Inc. and UBS Securities LLC to act as agents in connection with the Offering.

 

 

The net proceeds of the Offering are expected to be used for (1) the redemption in full, at par, of the Company’s (a) Senior Unsecured Convertible Debentures due 2018, (b) Senior Secured Convertible Debentures due 2020 and (c) Senior Secured Convertible Debentures due 2024 (the securities referred to in (a), (b) and (c), collectively, the “Outstanding Debentures”) and (2) general corporate purposes.

 

 

The terms of the Offering are subject to finalization based on market conditions. Subject to the final terms of the Offering, the completion of the Offering may be subject to the receipt of regulatory and shareholders’ approvals. Timing for the closing of the Offering and any requisite shareholders’ meeting will be announced by the Company at a later date. 

 

 

About Gran Colombia Gold Corp.

 

 

Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato operations. Gran Colombia is continuing its 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.

Posted February 5, 2018

MORE or "UNCATEGORIZED"


Gwen Preston - "Maven Comments: Velocity Minerals (TSXV: VLC)"

Velocity Minerals (TSX-V: VLC) is a Maven portfolio... READ MORE

February 23, 2018

Rick Mills - "5 reasons why commodities are the place to be in 2018"

Commodities will reign supreme as a new supercycle starts. ... READ MORE

February 23, 2018

Cobalt Market Gets Hotter – Financing To Close Next Week CEO recaps AMY’s Arizona Manganese Project (AUDIO)

Listen to the Interview with Larry Reaugh of American manganese H... READ MORE

February 23, 2018

Southern Silver Files Cerro Las Minitas Technical Report

Southern Silver Exploration Corp. (TSX-V: SSV) reported today tha... READ MORE

February 23, 2018

eCobalt Announces Closing of Bought Deal Financing

eCobalt Solutions Inc. (TSX:ECS) (OTCQX:ECSIF) is pleased to repo... READ MORE

February 23, 2018

Copyright 2018 The Prospector News - Site design by Spyderbaby Productions