Gran Colombia Gold Announces Details of November 2015 Interest Payments on Senior Debt
Release of Materials for Debt Restructuring Meetings and Upcoming Webcast on Financial Results for Q3 2015TORONTO, ON -- (Marketwired - November 05, 2015) - Gran Colombia Gold Corp. (TSX: GCM) (OTC PINK: TPRFF) announced today the details of the interest payments it will make on November 30, 2015 on its Senior Secured Gold-Linked Notes due 2017 and its Senior Unsecured Silver-Linked Notes due 2018.
Gold Note holders of record as of November 20, 2015 will receive approximately US$8.49 per US$1,000 face value of the notes, leaving a balance of interest in arrears after the November payment of US$17.26 (approximately two months) per US$1,000 face value of the Gold Notes. Silver Note holders of record as of November 20, 2015 will receive approximately US$4.25 per US$1,000 face value of the notes which will be applied against the interest in arrears from June 30, 2015, leaving a balance of US$8.49 per US$1,000 face value of Silver Notes after the November payment. These payment amounts are derived based on a 31-day period from October 31, 2015 through November 30, 2015, inclusive.
The interest payments are being made by the Company while we continue move forward on the comprehensive debt restructuring proposal previously announced on September 29, 2015. The meetings of Shareholders, Gold Noteholders and Silver Noteholders to approve the debt restructuring proposal are scheduled for November 27, 2015. Materials for these meetings would have been mailed today to holders of record as of October 26, 2015 and are also now available on the Company's SEDAR profile and website at www.grancolombiagold.com.
Should a security holder not receive materials in the coming days or if you have questions regarding how to vote your securities, please contact our proxy advisory and solicitation agent, Kingsdale Shareholder Services at 1-866-581-0508 or by email at contactus@kingsdaleshareholder.com.
Third Quarter Financial Results and Webcast
The Company also announced today that it will release its financial results for the third quarter of 2015 after market close on Wednesday, November 11, 2015 and will host a conference call and webcast on Thursday, November 12, 2015 at 9:30 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows:
| Live Event link: | http://edge.media-server.com/m/p/yo5iy4jp | |
| Toronto & International: | 1 (514) 841-2157 | |
| North America Toll Free: | 1 (866) 215-5508 | |
| Colombia Toll Free: | 1 800 9 156 924 | |
| Conference ID: | 41077134 | |
A replay of the webcast will be available at www.grancolombiagold.com from Thursday, November 12, 2015 until Saturday, December 12, 2015.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato Operations. Gran Colombia is currently advancing a project to develop a modern, large-scale, gold and silver mine at its Segovia operations.
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.
[b]Cautionary Statement on Forward-Looking Information:[/b]
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to interest payments on senior debt, the debt restructuring proposal and the expected timing for the meetings of the Gold Notes, the Silver Notes and the Company's common shares. 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, 2015, 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, Please Contact:
Gran Colombia Gold Corp.
Mike Davies, Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com