Gran Colombia Completes C$20,000,000 Private Placement Offering of Convertible Debentures

April 04, 2019

Gran Colombia Gold Corp. (TSX: GCM, OTCQX: TPRFF) (“Gran Colombia”), a Canadian-based mid-tier gold producer with its primary focus in Colombia, has completed a bought deal private placement offering of convertible unsecured subordinated debentures at a price of C$1,000 per C$1,000 principal amount of debentures (the “Convertible Debentures”) for gross proceeds of C$20,000,000 (the “Offering”). The Convertible Debentures will mature on April 5, 2024 (the “Maturity Date”), being five years and one day after the issuance date and will accrue interest at the rate of 8.00% per annum. The Offering was co-led by GMP Securities L.P. and Scotiabank.

At the holders’ option, the Convertible Debentures may be converted into common shares of Gran Colombia (“Debenture Shares”) at any time and from time to time, up to the Maturity Date. The Toronto Stock Exchange has conditionally approved the listing of the Debenture Shares, subject to Gran Colombia fulfilling all of the listing requirements of the Toronto Stock Exchange.

Wildeboer Dellelce LLP acted for Gran Colombia in connection with the Offering with a team that consisted of Perry Dellelce, Peter Volk, Patricia Good and Melissa Smith (corporate/securities) and Katy Pitch and Marija Tasevska (tax).