GOLDEN, Colo., Feb. 12, 2016 /PRNewswire/ -- Golden
Minerals Company (NYSE MKT: AUMN; TSX: AUM) ("Golden Minerals" or
"the Company") is pleased to announce that The Sentient Group has
elected to convert a portion of the principal plus interest due
under the terms of a convertible loan into common shares, effective
February 11, 2016.
As previously announced, Golden Minerals received $5.0 million in a secured, one-year convertible
loan from The Sentient Group on October 27,
2015. Conversion of the principal plus interest into shares
of Golden Minerals common stock was approved at a special meeting
of stockholders held on January 19,
2016.
The Sentient Group will convert approximately $3.9 million principal plus $0.1 million accumulated interest into 23,355,000
Golden Minerals shares. The conversion price is determined by the
15 day VWAP (volume weighted average price) immediately before the
selected conversion date. After conversion, approximately
$1.1 million of loan principal will
remain outstanding and due at maturity on October 27, 2016. This remaining loan balance can
also be converted at any time before maturity. The Sentient
Group will hold approximately 49 percent of Golden Minerals' issued
and outstanding shares, which will rise to approximately 76.7
million after conversion.
About Golden Minerals
Golden Minerals is a Delaware
corporation based in Golden,
Colorado. The Company is primarily focused on acquiring and
advancing mining properties near its Velardena processing plants and the
exploration of properties in Mexico and Argentina.
For additional information please visit
http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler
Director of Investor Relations
(303) 839-5060
Investor.relations@goldenminerals.com
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SOURCE Golden Minerals Company