Aris Mining Corp (ARMN)

[Refill]

Gran Colombia Gold Announces 2017 Outlook and Proposals to Improve Capital Structure.

I don't think this affect the debt holders so it looks like the Debenture holders will benefit at the expense of the common shareholders?

Share Consolidation

Gran Colombia has an authorized capital consisting of an unlimited number of common shares without par value and an unlimited number of Preferred Shares without par value, of which 306,755,502 common shares are currently issued and outstanding. In addition, a further approximately 1.1 billion common shares are issuable through the potential future exercise of the issued and outstanding convertible debentures due 2018, 2020 Debentures, stock options and warrants. This potentially large number of issued and outstanding common shares acts as a damper on the Company's stock price and could restrict the ability of the Company to raise equity in the future to fund its business activities. Accordingly, the Company is proposing to consolidate its issued and outstanding common shares on a ten-for-one basis (10:1) (the "Consolidation"), subject to the approval of the TSX and approval of Shareholders by way of special resolution. The Company believes that the benefits of the Consolidation include, among other things, that the anticipated higher share price resulting from the Consolidation may meet investing guidelines for certain institutional investors and investment funds that are prevented under such guidelines from investing in the common shares at current price levels. Also, a smaller number of common shares trading at a higher price makes the Company more attractive to potential investors, and could further enhance the value of the common shares held by current shareholders.

Information related to the Special Meeting of Shareholders expected to be held on April 24, 2017 will be available on or about March 24, 2017.


http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2017/Gran-Colombia-Gold-Announces-2017-Outlook-and-Proposals-to-Improve-Capital-Structure/default.aspx