Gran Colombia Provides Details of Forthcoming Repayments of its Gold Notes; Declares Monthly Dividend to Be Paid on May 17, 2...
15 April 2021 - 11:00PM
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: |
April 30, 2021 |
Record date: |
April 23, 2021 |
Cash payment amount: |
Approximately US$0.12437019 per US$1.00 principal amount of Gold
Notes issued and outstanding on the Record date representing an
amortization payment of the principal amount of approximately
US$0.08847185 per US$1.00 principal amount of Gold Notes and a gold
premium of approximately US$0.03589834 per US$1.00 principal amount
of Gold Notes. Based on the London P.M. Fix on April 15, 2021 of
US$1,757.20 per ounce, the aggregate amount of the cash payments on
the Payment Date will be US$4,059,132, 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$32,637,500 principal
amount of Gold Notes issued and outstanding. After this quarterly
repayment, the aggregate principal amount of the Gold Notes as of
April 30, 2021 will be reduced to US$29,750,000. |
Early Optional Redemption of Gold
Notes
Gran Colombia also announced today the details
for the previously announced early optional redemption of
US$10,000,000 aggregate principal amount of its Gold Notes as
follows:
Payment date: |
May 10, 2021 |
Record date: |
May 3, 2021 |
Cash payment amount: |
Approximately US$0.35001680 per US$1.00 principal amount of Gold
Notes issued and outstanding on the Record Date representing a
redemption price of US$0.33613445 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$0.01388235 per US$1.00
principal amount of Gold Notes. The aggregate amount of the cash
payments on the Payment Date will be approximately US$10,413,000 of
which US$10,000,000 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 issuedand outstanding: |
After this redemption, the aggregate principal amount of the Gold
Notes will be reduced to US$19,750,000 as of May 10, 2021. |
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 May 17, 2021 to
shareholders of record as of the close of business on April 30,
2021.
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’s
portfolio includes equity positions in several listed companies
advancing gold and silver projects including a 44.3% equity
interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato;
Canada – Juby), an 18.2% equity interest in Gold X Mining Corp.
(TSX-V: GLDX) (Guyana – Toroparu), a 27.3% equity interest in
Denarius Silver Corp. (TSX-V: DSLV) (Colombia – Guia Antigua and
Zancudo) and a 25.8% equity interest in Western Atlas Resources
Inc. (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 the repayments of its Gold Notes, payment of
dividends and other 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
31, 2021 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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