Mr. Michael Davies reports

GRAN COLOMBIA SUCCESSFULLY COMPLETES EQUITY OFFERING

Gran Colombia Gold Corp. has successfully completed its previously announced equity offering of 8,423,837 units at a price per unit of $1.93 for aggregate gross proceeds to the company of $16,258,005, underwritten by GMP Securities LP. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. The offering was completed pursuant to a short form prospectus dated Feb. 28, 2014.

The offering includes the exercise in part by the underwriter of the overallotment option for an additional 923,837 units representing $1,783,005 in additional gross proceeds to the company.

The company intends to use a portion of the net proceeds of the offering to repay the previously announced bridge loan. The balance of the net proceeds will be used to maintain the financial flexibility of the company, including the financing of efforts to improve operating cash flow, grow production and expand resources at the Segovia project.

Blue Pacific Assets Corp., an investment company in which three directors of the company together indirectly hold a majority share, has subscribed for 2,211,442 units pursuant to the offering. This increases Blue Pacific's beneficial ownership in the company to approximately 14.9 per cent of the issued and outstanding shares in the capital of the company on a non-diluted basis.