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Gran Colombia Announces Details for the Forthcoming Quarterly Repayment of its Gold Notes on July 31, 2020
Gran Colombia Gold Corp. (TSX: GCM) (OTCQX: TPRFF) announced 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: | July 31, 2020 |
| Record date: | July 24, 2020 |
| Cash payment amount: | Approximately US$0.10093525 per US$1.00 principal amount of Gold Notes issued and outstanding representing an amortization payment of the principal amount of approximately US$0.06991525 per US$1.00 principal amount of Gold Notes and a gold premium of approximately US$0.03102000 per US$1.00 principal amount of Gold Notes. Based on the London P.M. Fix on July 15, 2020 of US$1,804.60 per ounce, the aggregate amount of the cash payments on the Payment Date will be US$4,168,626, of which US$2,887,500 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$41,300,000 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$38,412,500. |
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 57.5% of Caldas Gold Corp., a Canadian mining company currently advancing 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 19% 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 July 16, 2020
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