Gran Colombia Prices Oversubscribed US$300 Million 6.875% Senior Unsecured Notes Offering
05 August 2021 - 1:00AM
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today
that it has successfully priced an oversubscribed offering of
US$300 million in senior unsecured notes due 2026 at a coupon rate
of 6.875% (the “2026 Notes”) pursuant to Rule 144A and Regulation S
of the U.S. Securities Act of 1933, as amended, (the “Act”), with
closing expected to occur on or about August 9, 2021.
The proceeds from the 2026 Notes will be used to
(i) to fund the development of our Guyana operations, (ii) to
prepay the remaining Gold-Linked Notes, and (iii) for general
corporate purposes. The 2026 Notes have been assigned a rating of
B+ by Fitch Ratings and a rating of B+ by S&P Global
Ratings.
This press release is neither an offer to sell
nor a solicitation of an offer to buy the 2026 Notes, nor shall
there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such jurisdiction.
The 2026 Notes have not been registered under
the Act, or the securities laws of any other jurisdiction, and may
not be offered or sold in the United States absent registration or
an applicable exemption from registration rights. The 2026 Notes
are being offered exclusively to qualified institutional buyers in
the United States pursuant to Rule 144A under the Act, to non-U.S.
persons in transactions outside the United States pursuant to
Regulation S under the Act and pursuant to certain prospectus
exemptions in Canada.
About Gran Colombia Gold
Corp.
Gran Colombia is a mid-tier gold producer with a
proven track record of mine building and operating in Latin
America. In Colombia, the Company is currently the largest
underground gold and silver producer with several mines in
operation at its high-grade Segovia Operations. In Guyana, the
Company is advancing the Toroparu Project, one of the largest
undeveloped gold projects in the Americas. Gran Colombia also owns
an approximately 44% equity interest in Aris Gold Corporation (TSX:
ARIS) (Colombia – Marmato), an approximately 27% equity interest in
Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos;
Colombia – Guia Antigua and Zancudo) and an approximately 26%
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 timing and terms of the 2026 Notes offering, the
expected use of proceeds of the 2026 Notes offering 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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