By Lisa Kerner
Charlotte, N.C., Sept. 20 - Gran Colombia Gold Corp. announced it will place 120,000 units at $1,000 per unit, for total gross proceeds of $120 million.
Each unit will consist of one $1,000 principal amount secured gold-linked note of the company and common share purchase warrants of the company.
Proceeds will be used for project financing for the development and construction of a mill, related infrastructure, additional capital expenditures relating to Gran Colombia's Segovia operations and interest payments on the notes.
GMP Securities LP is sole lead agent and sole bookrunner, according to a company news release.
The offering is expected to close in mid-October.
Gran Colombia is a Toronto-based gold and silver exploration, development and production company with its primary focus in Colombia. It announced plans for evaluating financing alternatives on Dec. 12.
| Issuer: | Gran Colombia Gold Corp.
|
| Issue: | 120,000 units of secured gold-linked notes and warrants
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| Amount: | $120 million
|
| Price: | Par of $1,000
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| Distribution: | Private placement
|
| Bookrunner: | GMP Securities LP
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