10:38:58 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Gran Colombia Gold Corp (4)
Symbol GCM
Shares Issued 61,143,744
Close 2021-04-15 C$ 5.69
Market Cap C$ 347,907,903
Recent Sedar Documents

Gran Colombia outlines gold note repayment details

2021-04-15 17:14 ET - News Release

Mr. Mike Davies reports

GRAN COLOMBIA PROVIDES DETAILS OF FORTHCOMING REPAYMENTS OF ITS GOLD NOTES; DECLARES MONTHLY DIVIDEND TO BE PAID ON MAY 17, 2021

Gran Colombia Gold Corp. has released the details for the forthcoming quarterly repayment of its 8.25 per cent senior secured gold-linked notes due 2024, as follows.

Payment date:  April 30, 2021

Record date:  April 23, 2021

Cash payment amount:  approximately 12.437019 U.S. cents per $1 (U.S.) principal amount of gold notes issued and outstanding on the record date, representing an amortization payment of the principal amount of approximately 8.847185 U.S. cents per $1 (U.S.) principal amount of gold notes and a gold premium of approximately 3.589834 U.S. cents per $1 (U.S.) principal amount of gold notes (Based on the London P.M. Fix on April 15, 2021, of $1,757.20 (U.S.) per ounce, the aggregate amount of the cash payments on the payment date will be $4,059,132 (U.S.), of which $2,887,500 (U.S.) 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 $32,637,500 (U.S.) 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 $29.75-million (U.S.).

Early optional redemption of gold notes

Gran Colombia also announced today the details for the previously announced early optional redemption of $10-million (U.S.) aggregate principal amount of its gold notes as follows.

Payment date:  May 10, 2021

Record date:  May 3, 2021

Cash payment amount:  approximately 35.001680 U.S. cents per $1 (U.S.) principal amount of gold notes issued and outstanding on the record date, representing a redemption price of 33.613445 U.S. cents for each $1 (U.S.) principal amount of the gold notes plus the applicable premium, as defined in the gold note indenture, of approximately 1.388235 U.S. cents per $1 (U.S.) principal amount of gold notes (The aggregate amount of the cash payments on the payment date will be approximately $10,413,000 (U.S.), of which $10-million (U.S.) 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 issued and outstanding:  After this redemption, the aggregate principal amount of the gold notes will be reduced to $19.75-million (U.S.) as of May 10, 2021.

Monthly dividend declaration

Gran Colombia's board of directors has declared the next monthly dividend of 1.5 cents per common share, to 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-per-cent equity interest in Aris Gold Corp. (Colombia -- Marmato; Canada -- Juby); an 18.2-per-cent equity interest in Gold X Mining Corp. (Guyana -- Toroparu); a 27.3-per-cent equity interest in Denarius Silver Corp. (Colombia -- Guia Antigua and Zancudo); and a 25.8-per-cent equity interest in Western Atlas Resources Inc. (Nunavut -- Meadowbank).

Additional information on Gran Colombia can be found on its website and by reviewing its profile on SEDAR.

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