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Gran Colombia Provides Details of February 1, 2021 Gold Notes Repayment; Declares Monthly Dividend to be Paid on February 15, 2021
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: | February 1, 2021 |
| Record date: | January 25, 2021 |
| Cash payment amount: | Approximately US$0.11958030 per US$1.00 principal amount of Gold Notes issued and outstanding representing an amortization payment of the principal amount of approximately US$0.08128079 per US$1.00 principal amount of Gold Notes and a gold premium of approximately US$0.03829951 per US$1.00 principal amount of Gold Notes. Based on the London P.M. Fix on January 15, 2021 of US$1,839.00 per ounce, the aggregate amount of the cash payments on the Payment Date will be US$4,248,090, 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$35,525,000 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$32,637,500. |
Monthly Dividend Declaration
Gran Colombia also announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on February 15, 2021 to shareholders of record as of the close of business on January 29, 2021.
On January 12, 2021, OTC Market Groups Inc. (OTCQX: OTCM) announced that Gran Colombia has been added to the OTCQX Dividend Index (OTCQXDIV) which tracks dividend-paying U.S. and international OTCQX companies.
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 53.5% of Caldas Gold Corp. (TSX-V: CGC) (OTCQX: ALLXF), 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, currently in the process of being spun out to ESV Resources Ltd. (TSX-V: ESV.H) together with an approximately 18% equity interest in Gold X Mining Corp. (TSX-V: GLDX) (Guyana – Toroparu) and an approximately 26% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).
Posted January 18, 2021
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