Aris Mining Corp (ARMN)

[NYBob]

Gran Colombia Gold Announces Closing of C$15 Million Strategic Investment by Eric Sprott
T.GCM | 2 days ago
TORONTO, Nov. 05, 2019 (GLOBE NEWSWIRE) --


Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that
it has closed its previously announced investment by Eric Sprott in a
non-brokered private placement (the “Private Placement”).

Through the Private Placement, 2176423 Ontario Ltd., a corporation that
is beneficially owned by Mr. Sprott, acquired 3,260,870 Units of
Gran Colombia at a price of C$4.60 per Unit for a total investment of
C$15 million.

The proceeds of the Private Placement will be used for general working
capital and corporate purposes.
Each Unit consists of one common share and one common share purchase
warrant (“Warrant”) exercisable into a full common share at
C$5.40 per share expiring November 5, 2023.

As of today, Gran Colombia has 53,257,106 common shares issued and
outstanding and, including the effect of warrants, stock options and
convertible debentures, the total would be 74,424,475 common shares
on a fully diluted basis.

Prior to the Private Placement, Mr. Sprott did not own or control any
shares of Gran Colombia.
As a result of the Private Placement, Mr. Sprott beneficially owns or
controls 3,260,870 common shares and 3,260,870 Warrants of the Company
representing 6.12% on a non-diluted basis and approximately 11.54% of
the issued and outstanding common shares of Gran Colombia assuming the
exercise of the Warrants acquired in the Private Placement.

The Units were acquired by Mr. Sprott for investment purposes.
Mr. Sprott has a long-term view of the investment and may acquire
additional securities of Gran Colombia including on the open market or
through private acquisitions or sell securities of Grand Colombia
including on the open market or through private dispositions in the
future depending on market conditions, reformulation of plans and/or
other factors that Mr. Sprott considers relevant from time to time.

2176423 Ontario Ltd.’s early warning report will appear on Gran
Colombia’s profile on SEDAR at www.sedar.com and may also be obtained
by calling
Mr. Sprott’s office at [phone] (200 Bay Street, Suite 2600,
Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

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 and,
through a spin out transaction with Bluenose Gold Corp. announced on
October 7, 2019, Gran Colombia is progressing toward a major expansion
and modernization of its underground mining operations at
the Marmato Project.

Additional information on Gran Colombia can be found on its website at
http://www.grancolombiagold.com
and by reviewing its profile on SEDAR at
http://www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 27, 2019 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
[phone]
[e-mail]

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GlobeNewswire
November 5, 2019 - 2:15 PM PST
Tags:
GOLD INDUSTRIAL METALS & MINERALS

https://investorshub.advfn.com/Gran-Colombia-Gold-Corp-TPRFF-30138/

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