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Gran Colombia Announces Details for the Forthcoming Quarterly Repayment of Its Gold Notes on April 30, 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: | 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. (TSX-V: WA) (Nunavut – Meadowbank).
Posted April 16, 2020
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