Gran Colombia Announces Closing of Offering of US$300 Million 6.875% Senior Unsecured Notes; Gives Notice of Early Optional Redemption of 8.25% Senior Secured Gold-Linked Notes Due 2024
09 Agosto 2021 - 9:55AM
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today
that it has completed its previously announced offering of US$300
million in 6.875% senior unsecured notes due 2026.
Serafino Iacono, Executive Chairman of Gran
Colombia, commented, “We are delighted with the overwhelming
success of this offering, one which attracted high quality
institutional and retail investors who recognized our focus on a
strong credit profile and growth through diversification. With the
net proceeds of this offering, we will be fully funded to develop
our Toroparu gold/copper project in Guyana and we will not need to
go to market with any dilutive equity financings to carry out our
strategy. We are nearing completion of our updated preliminary
economic assessment for the Toroparu Project incorporating the
recently announced high-grade results from the 2020-2021 drilling
program. We are very excited to begin this next chapter, creating
value for our stakeholders through our diversified growth platform
centered on two cornerstone assets, our Segovia Operations in
Colombia and our Toroparu Project in Guyana.”
This press release is neither an offer to sell
nor a solicitation of an offer to buy the 2026 Notes, nor shall
there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such jurisdiction.
The 2026 Notes have not been registered under
the Act, or the securities laws of any other jurisdiction, and may
not be offered or sold in the United States absent registration or
an applicable exemption from registration rights. The 2026 Notes
are being offered exclusively to qualified institutional buyers in
the United States pursuant to Rule 144A under the Act, to non-U.S.
persons in transactions outside the United States pursuant to
Regulation S under the Act and pursuant to certain prospectus
exemptions in Canada.
Early Optional Redemption of 8.25%
Senior Secured Gold-Linked Notes due 2024 (“Gold Notes”) (TSX:
GCM.NT.U)
Currently, the aggregate principal amount of
Gold Notes issued and outstanding is US$18,006,250. Gran Colombia
also announced today that pursuant to the Gold Notes Indenture, it
will complete an early optional redemption on September 9, 2021 of
the full remaining aggregate principal amount of its Gold Notes
outstanding. In accordance with the Gold Notes Indenture, the early
redemption price will be 104.13% of the aggregate principal amount
of the Gold Notes being redeemed plus accrued interest. Following
the early optional redemption, the Gold Notes will be delisted from
the Toronto Stock Exchange.
About Gran Colombia Gold
Corp.
Gran Colombia is a mid-tier gold producer with a
proven track record of mine building and operating in Latin
America. In Colombia, the Company is currently the largest
underground gold and silver producer with several mines in
operation at its high-grade Segovia Operations. In Guyana, the
Company is advancing the Toroparu Project, one of the largest
undeveloped gold projects in the Americas. Gran Colombia also owns
an approximately 44% equity interest in Aris Gold Corporation (TSX:
ARIS) (Colombia – Marmato), an approximately 27% equity interest in
Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos;
Colombia – Guia Antigua and Zancudo) and an approximately 26%
equity interest in Western Atlas Resources Inc. (TSX-V: WA)
(Nunavut – Meadowbank).
Additional information on Gran Colombia can be
found on its website at www.grancolombiagold.com and by
reviewing its profile on SEDAR at 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 the early optional redemption of the Gold Notes and
other 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 31, 2021 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 DaviesChief Financial Officer(416)
360-4653investorrelations@grancolombiagold.com