Gran Colombia Provides Details of February 1, 2021 Gold Notes Repayment; Declares Monthly Dividend to be Paid on February 15,...
18 Januar 2021 - 01:00PM
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 (the “Gold Notes”) (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 issuedand 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.
(TSXV: GLDX) (Guyana – Toroparu) and an approximately 26% equity
interest in Western Atlas Resources Inc. (“Western Atlas”) (TSX-V:
WA) (Nunavut – Meadowbank).
Additional information on Gran Colombia can be
found on its website at www.grancolombiagold.com and by
reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking
Information:
This news release contains "forward-looking
information", which may include, but is not limited to, statements
with respect to payments of its Gold Notes and dividends and
anticipated business plans or strategies. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Gran Colombia to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors
that could cause actual results to differ materially from those
anticipated in these forward-looking statements are described under
the caption "Risk Factors" in the Company's Annual Information Form
dated as of March 30, 2020 which is available for view on SEDAR at
www.sedar.com. Forward-looking statements contained herein are made
as of the date of this press release and Gran Colombia disclaims,
other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information,
results, future events, circumstances, or if management's estimates
or opinions should change, or otherwise. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
For Further Information,
Contact:Mike DaviesChief Financial Officer(416)
360-4653investorrelations@grancolombiagold.com
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