NEWS!!!"Gran Colombia Announces Proposed Issuance of up to US$152 Million of Units to Improve Its Capital Structure and Reduce Potential Dilution of Common Shares February 05, 2018 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, CANADA, Monday, February 5, 2018 – Gran Colombia Gold Corp. (the “Company” or “Gran Colombia”) (TSX: GCM) announced today that it has determined to offer for sale, on a best efforts private placement basis, up to 152,000 units (the “Units”) of the Company for anticipated aggregate gross proceeds of up to US$152,000,000 (the “Offering”). Each Unit is expected to consist of US$1,000 principal amount of senior secured gold-linked notes (the “Notes”) and a number of common share purchase warrants of the Company to be determined based on market conditions. The Company has retained GMP Capital Inc. (“GMP”) and UBS Securities LLC (“UBS” and collectively with GMP, the “Agents”) to act as agents in connection with the Offering.
The net proceeds of the Offering are expected to be used for (1) the redemption in full, at par, of the Company’s (a) Senior Unsecured Convertible Debentures due 2018, (b) Senior Secured Convertible Debentures due 2020 and (c) Senior Secured Convertible Debentures due 2024 (the securities referred to in (a), (b) and (c), collectively, the “Outstanding Debentures”) and (2) general corporate purposes.
The terms of the Offering are subject to finalization based on market conditions. Subject to the final terms of the Offering, the completion of the Offering may be subject to the receipt of regulatory and shareholders’ approvals. Timing for the closing of the Offering and any requisite shareholders’ meeting will be announced by the Company at a later date."
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