Voting Results of the Annual Meeting of the Shareholders of Gran Colombia and 2016 Production Update
TORONTO, ON--(Marketwired - June 23, 2016) - Gran Colombia Gold Corp.'s (TSX: GCM) (OTC PINK: TPRFF) Annual Meeting of Shareholders was held on Thursday, June 23, 2016. The detailed results of the votes for each matter to be acted upon are set out below:
| Item No. | Description of matter | Outcome of vote | Voted | Voted (%) | ||||
| 1. | Fixing the number of directors at ten. | Approved | 84,811,905 For | 98.63% | ||||
| 1,173,881 Against | 1.37% | |||||||
| 2. | The election of the following individuals as directors of the Corporation to hold office until the next annual meeting of the Corporation or until their successors are appointed or elected: | |||||||
| Miguel de la Campa | Approved | 79,685,634 For | 99.01% | |||||
| 797,405 Withheld | 0.99% | |||||||
| Serafino Iacono | Approved | 79,286,634 For | 98.51% | |||||
| 1,196,405 Withheld | 1.49% | |||||||
| Mark Ashcroft | Approved | 79,685,566 For | 99.01% | |||||
| 797,473 Withheld | 0.99% | |||||||
| Edward Couch | Approved | 79,431,378 For | 98.69% | |||||
| 1,051,661 Withheld | 1.31% | |||||||
| Rodney Lamond | Approved | 79,685,910 For | 99.01% | |||||
| 797,129 Withheld | 0.99% | |||||||
| Ian Mann | Approved | 79,431,378 For | 98.69% | |||||
| 1,051,661 Withheld | 1.31% | |||||||
| Hernan Juan Jose Martinez Torres | Approved | 79,685,625 For | 99.01% | |||||
| 797,414 Withheld | 0.99% | |||||||
| Robert Metcalfe | Approved | 79,685,625 For | 99.01% | |||||
| 797,414 Withheld | 0.99% | |||||||
| Jaime Perez Branger | Approved | 79,286,625 For | 98.51% | |||||
| 1,196,414 Withheld | 1.49% | |||||||
| Mark Wellings | Approved | 79,685,901 For | 99.01% | |||||
| 797,138 Withheld | 0.99% | |||||||
| 3. | Appointing KPMG LLP as auditors of the Corporation at a remuneration to be fixed by the directors. | Approved | 85,709,927 For | 99.68% | ||||
| 275,860 Withheld | 0.32% |
2016 Production Update
Gran Colombia also announced today that its total gold production for the month of May was 13,141 ounces bringing the total for the first five months of 2016 to 56,682 ounces, up 36% over the same period last year. At the Segovia Operations, 11,023 ounces of gold were produced in May bringing its total production to 46,976 ounces for the first five months of 2016, up 44% over the same period last year. A 50% increase in tonnes milled in 2016, averaging 735 tpd through the first five months, has been the primary contributor to Segovia's production improvement in 2016. In the Company-operated mining areas at Segovia, which represent about half of the tonnes milled this year, development and mechanization activities in the Providencia and El Silencio mines have generated a 50% improvement in tonnes milled in 2016 and a 17% increase in head grades compared with the same period last year. Gran Colombia has also seen a 49% increase in ore sourced from the contract mining cooperatives in the first five months of 2016 with head grades averaging 22 g/t. At the Marmato underground mine, May's gold production of 2,118 ounces brought the total for the first five months of 2016 to 9,707 ounces, up 7% over the same period last year. Gran Colombia remains on track to meet its annual production guidance of 120,000 to 138,000 ounces of gold.
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 in the midst of an expansion and modernization project 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.
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 production guidance. 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 30, 2016, 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.
Contact
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com