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Gran Colombia Announces Details for the Forthcoming Quarterly Repayment of Its Gold Notes on October 31, 2019 and the Third Quarter 2019 Results Webcast
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 (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.
Posted October 16, 2019
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