Aris Mining Corp (ARMN)

[TPX]

NEWS! Gran Colombia Gold Receives Consent to Extend Maturity of US$47 Million of Senior Secured Convertible Debentures to 2024

May 12, 2017
TORONTO, ON --(Marketwired - May 12, 2017) - Gran Colombia Gold Corp. (TSX: GCM) announced today that its consent solicitation process (the "Consent Solicitation") concluded yesterday and holders of 77.4% of the total principal amount of the Company's issued and outstanding 2020 Debentures consented to the Company's proposal to amend the Amended and Restated Indenture dated as of January 20, 2016, as amended January 1, 2017, (the "Indenture") to provide holders the option to extend the maturity date of their 2020 Debentures to January 2, 2024 (the "Extended Debentures"). In addition, holders of a total of US$47.0 million of 2020 Debentures elected to extend their 2020 Debentures to 2024.

Commenting on the results of the Consent Solicitation, Serafino Iacono, Executive Co-Chairman of Gran Colombia said "we are very pleased with the strong support we have received from the holders of our 2020 Debentures in this process to improve our capital structure. As we move ahead, we will continue to execute our strategy and we remain committed to systematically reducing our issued and outstanding senior secured debt with our excess cash flow."

The Company expects to enter into a supplemental Indenture with its trustee shortly to implement the amendments described in the Consent Solicitation. It is also expected that the extension of the 2020 Debentures will be made effective May 31, 2017. Interest on the Extended Debentures will be paid monthly at an annual rate of 8% over the then remaining term of the Extended Debentures with the first full monthly interest payment to be paid on June 30, 2017.

The Company has received conditional listing approval from the Toronto Stock Exchange for the listing of Extended Debentures and it is anticipated that the Extended Debentures will be posted for trading under the symbol "GCM.DB.X", subject to satisfaction of the listing conditions.

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2017/Gran-Colombia-Gold-Receives-Consent-to-Extend-Maturity-of-US47-Million-of-Senior-Secured-Convertible-Debentures-to-2024/default.aspx