Frank Giustra Announces Holdings in Gran Colombia Gold Corp.

VANCOUVER, Nov. 25, 2016 /CNW/ - Frank Giustra and his related entities filed an early warning report pursuant to the early warning requirements of applicable securities laws in Canada with respect to holdings in Gran Colombia Gold Corp. (the "Issuer").   

Radcliffe Corporation, a company owned and controlled by Frank Giustra disposed of US$45,000 2020 Convertible Debentures of the Issuer. Prior to the disposition of securities, Mr. Giustra owned directly and indirectly 27,577,853 common shares, representing 9.93% of the outstanding shares of the Issuer and US$45,371 of the 2020 Convertible Debentures, representing 0.044% of the issued and outstanding 2020 Convertible Debentures of the Issuer. As a result of the disposition of securities described above, Mr. Giustra directly and indirectly owns in aggregate 27,577,853 common shares of the Issuer, representing 9.93% of the current issued and outstanding common shares of the Issuer and US$371 of the 2020 Convertible Debentures, representing 0.0004% of 2020 Convertible Debentures of the Issuer. Mr. Giustra is no longer deemed an insider of the Issuer and is not required to complete any further regulatory filings.

Mr. Giustra and his related entities acquired these securities for investment purposes and as disclosed in the Early Warning Report accompanying this news release, may in the future acquire or dispose of securities of the Issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.

SOURCE Frank Giustra

For further information: For additional information, or for a copy of the early warning report filed in respect of the above transaction, please contact: Joanna Vastardis, Fiore Management & Advisory Corp., Suite 3123, 595 Burrard Street, Vancouver, BC V7X 1J1, Tel: (604) 609-6125

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