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GRAN COLOMBIA ANNOUNCES DETAILS FOR THE FORTHCOMING EARLY REDEMPTION OF ITS GOLD NOTES ON MARCH 31, 2020
Gran Colombia Gold Corp. (TSX: GCM) (OTCQX: TPRFF) announced today the details for the forthcoming early redemption of 30% of the aggregate principal amount outstanding of its 8.25% Senior Secured Gold-Linked Notes due 2024 (TSX: GCM.NT.U) as follows:
| Payment date: | March 31, 2020 | |
| Record date: | March 26, 2020 | |
| Cash payment amount: | Approximately US$0.33095042 per US$1.00 principal amount of Gold Notes issued and outstanding representing a redemption price of US$0.30 for each US$1.00 principal amount of the Gold Notes plus the Applicable Premium, as defined in the Gold Notes Indenture, of approximately US$0.03095042 per US$1.00 principal amount of Gold Notes. The aggregate amount of the cash payments on the Payment Date will be approximately US$21,139,458, of which US$19,162,500 will be applied to reduce the aggregate principal amount of the Gold Notes issued and outstanding and the balance represents the Applicable Premium. | |
| Principal amount issued and outstanding: |
As of today’s date, there is a total of US$63,875,000 principal amount of Gold Notes issued and outstanding. After this redemption, the aggregate principal amount of the Gold Notes will be reduced to US$44,712,500. | |
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. (TSX-V: GLDX) (Guyana – Toroparu) and an approximately 20% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).
Posted March 27, 2020
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