Capital markets re-rating opportunity
Benefits to Gold X Shareholders
Significant premium (44% based on Gold X s 20-day VWAP as of March 12, 2021 on the TSXV)
Increased balance sheet strength, access to capital and free cash flow to fund development
Continued exposure to upside at the Toroparu Gold Project
Diversified ownership in Gran Colombia s world-class Segovia Gold Mine
Access to Gran Colombia s in-house development and operational capabilities
Gran Colombia s monthly dividend
Significant improvement in trading liquidity and greater capital markets exposure
Transaction Conditions & Timing
Gold X intends to call a meeting of shareholders to be held in May 2021 to seek shareholder approval for the Arrangement (the
Gran Colombia offers $315M in friendly, all-share offer for Gold X northernminer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from northernminer.com Daily Mail and Mail on Sunday newspapers.
Gran Colombia Gold (TSX: GCM) is acquiring
Gold X Mining (TSXV: GLDX) in an all-share deal valued at $315 million, after a
three-way merger proposal that included Guyana Goldfields was scuttled last year by
The combination of assets – Gran Colombia’s producing Segovia operations and Gold X’s Toroparu advanced gold project in Guyana – would create a new “Latin American-focused growth platform.”
Highlights of the transaction include an enhanced balance sheet and access to capital (the combined company would have $100 million in cash), and greater market visibility and interest. Both Segovia and Toroparu also have significant growth and exploration potential.
Gran Colombia already owns an 18% stake in Gold X. The offer implies a 39% premium based on the closing price of Gold X shares on Mar. 12.
Gran Colombia Announces Steps to Continue Strengthening Its Balance Sheet With Partial Early Redemptions of Its Long-Term Debt
March 10, 2021 19:53 ET | Source: Gran Colombia Gold Gran Colombia Gold Toronto, Ontario, CANADA
Announces early redemption of 10%, equivalent to CA$2,000,000, of its 8% Convertible Unsecured Debentures due 2024 to take place on April 5, 2021
Announces early redemption of approximately 33.6%, equivalent to US$10,000,000, of its 8.25% Senior Secured Gold Notes due 2024 to take place on May 3, 2021
TORONTO, March 10, 2021 (GLOBE NEWSWIRE) Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) (“
Gran Colombia”) announced today that it will be taking steps to continue strengthening its balance sheet through permitted partial early redemptions of its long-term debt.