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GRAN COLOMBIA ANNOUNCES DETAILS FOR THE FORTHCOMING QUARTERLY REPAYMENT OF ITS GOLD NOTES ON JANUARY 31, 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 (TSX: GCM.NT.U) as follows:
| Payment date: | January 31, 2020 |
| Record date: | January 24, 2020 |
| Cash payment amount: | Approximately US$0.08787055 per US$1.00 principal amount of Gold Notes representing an amortization payment of the principal amount issued and outstanding of approximately US$0.07090909 per US$1.00 principal amount of Gold Notes and a gold premium of approximately US$0.01696146 per US$1.00 principal amount of Gold Notes. Based on the London P.M. Fix on January 15, 2020 of US$1,549.00 per ounce, the aggregate amount of the cash payments on the Payment Date will be US$6,041,100, 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$68,750,000 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$63,875,000. |
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 Segovia and Marmato Operations. Gran Colombia is continuing to focus on exploration, expansion and modernization activities at its high-grade Segovia Operations and, through a spin out transaction with Bluenose Gold Corp. announced on October 7, 2019, Gran Colombia is progressing toward a major expansion and modernization of its underground mining operations at the Marmato Project.
Posted January 18, 2020
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