WEST PALM BEACH, Fla., May 03, 2018 (GLOBE NEWSWIRE) -- As a result of certain recent actions taken by Gran Colombia Gold Corp. (“Gran Colombia” or the “Company”) allowing for early redemption of its Senior Secured Convertible Debentures due 2020 (the "Debentures"), holders of the Debentures may elect to have the Debentures redeemed at par on May 14, 2018.
Mr. Neil S. Subin (“Mr. Subin”), having control or direction over US$18,334,092 principal amount of the Debentures, which are convertible into approximately 9,402,098 common shares of Gran Colombia (“Common Shares”), representing approximately 25.07% of the outstanding Common Shares on a partially diluted basis taking into account only the outstanding Common Shares, as reported by the Company, and the Debentures over which Mr. Subin controls or has direction over and no others, has elected to have all of the Debentures held redeemed at par.
Mr. Subin and his joint actors elected to have all holdings of the Debentures redeemed as part of their normal investment activities. Depending on the evolution of Gran Colombia business, financial condition, the market, if any, for Gran Colombia securities, general economic conditions and other factors, Mr. Subin and his joint actors may acquire securities of Gran Colombia in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.
This press release is being issued pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning reports for the above-named companies, copies of which are filed on www.sedar.com, please contact:
Neil S. Subin
3300 South Dixie Highway
Suite I-365
West Palm Beach, Florida
USA 33405
info@limadvisory.com
Eric W. Fangmann
3300 South Dixie Highway
Suite I-365
West Palm Beach, Florida
USA 33405
info@limadvisory.com