Mr. Mike Davies reports
GRAN COLOMBIA ANNOUNCES DETAILS FOR THE FORTHCOMING QUARTERLY REPAYMENT OF ITS GOLD NOTES ON APRIL 30, 2019 AND THE FIRST QUARTER 2019 RESULTS WEBCAST
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.
Payment date: April 30, 2019
Record date: April 23, 2019
Cash payment amount: approximately 6.01384 U.S. cents per $1 (U.S.) principal amount of gold notes, representing an amortization payment of the principal amount issued and outstanding of approximately 5.84708 U.S. cents per $1 (U.S.) principal amount of gold notes and a gold premium of approximately 0.16676 U.S. cent per $1 (U.S.) principal amount of gold notes; the aggregate amount of the cash payments on the payment date will be $5,014,035 (U.S.), of which $4,875,000 (U.S.) will be applied to reduce the aggregate principal amount of the gold notes issued and outstanding; the company sold the 3,900 ounces accumulated in the gold trust account during the past quarter at the London P.M. Fix on April 15, 2019, of $1,285.65 (U.S.) per ounce to realize the proceeds required for this cash payment
Principal amount issued and outstanding: As of today's date, there is a total of $83,375,000 (U.S.) principal amount of gold notes issued and outstanding. After this quarterly repayment, the aggregate principal amount of the gold notes will be reduced to $78.5-million (U.S.).
First quarter 2019 results webcast
Gran Colombia also announced today that it will release its financial results for the first quarter of 2019 after market close on May 15, 2019, and will host a conference call and webcast on May 16, 2019, at 9:30 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows.
North America toll-free: 1-866-215-5508
Colombia toll-free: 01-800-9-156-924
Conference ID: 48466603
A replay of the webcast will be available at
the Gran Colombia website
from May 16, 2019, until June 14, 2019.
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 Segovia and Marmato operations. Gran Colombia is continuing to focus on exploration, expansion and modernization activities at its high-grade Segovia operations.
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