TORONTO, May 7, 2015 /PRNewswire/ - Gran Colombia
Gold Corp. (TSX: GCM, OTC: TPRFF) announced today the details of
the interest payments it will make on May
29, 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 May 19,
2015 will receive approximately US$7.95 per US$1,000 face value of the notes, leaving a
balance of interest in arrears after the May 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 May 19, 2015 will receive approximately
US$3.97 per US$1,000 face value of the notes which will be
applied against the interest in arrears from December 31, 2014, leaving a balance of
US$9.04 per US$1,000 face value of Silver Notes after the
April payment. These payment amounts are derived based on a 29-day
period from May 1, 2015 through
May 29, 2015, inclusive.
The interest payments are being made by the Company while we
continue work on a comprehensive plan moving forward. The Company
is continuing to work closely with its financial advisor, GMP
Securities L.P. and expects to continue discussions with Gold and
Silver note holders in the second quarter of 2015.
The Company also announced today that it will release its
financial results for the first quarter of 2015 after market close
on Thursday, May 14, 2015 and will
host a conference call and webcast on Friday, May 15, 2015 at 10:00 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/32qpqvp6
|
|
Toronto &
International:
|
1 (514)
841-2157
|
|
North America Toll
Free:
|
1 (866)
215-5508
|
|
Colombia Toll
Free:
|
01 800 9 156 924
|
|
Conference
ID:
|
39690668
|
A replay of the webcast will be available at
www.grancolombiagold.com from Friday, May
14, 2015 until Sunday, June
14, 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.
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 future financial or operating performance of the Company and
its projects and, specifically, statements concerning anticipated
growth in annual gold production and reduction of cash costs.
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.
SOURCE Gran Colombia Gold Corp.