GOLDEN, Colo., June 13, 2016 /PRNewswire/ -- Golden
Minerals Company (NYSE MKT: AUMN; TSX: AUM) ("Golden Minerals" or
"the Company") is pleased to announce that The Sentient Group
("Sentient") has elected to convert the remaining principal and
interest due under the terms of a convertible loan into common
stock, effective June 10, 2016. After
the conversion, Golden Minerals will carry no debt on its
books.
On June 10, 2016, Sentient
converted approximately $1.16 million
principal and accumulated interest into 4,011,740 shares of Golden
Minerals common stock. The conversion price was equal to 90% of the
15-day VWAP (volume weighted average price) immediately preceding
the loan's original issue date. After conversion, Sentient
holds approximately 46.8 percent of Golden Minerals' 88.9 million
shares of issued and outstanding common stock.
Golden Minerals initially 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. Sentient converted approximately $3.9 million principal plus $0.1 million accumulated interest into 23,355,000
Golden Minerals shares on February
11, 2016.
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