Frank Giustra Announces Holdings in Gran Colombia Gold Corp.

VANCOUVER, Feb. 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").   

Pursuant to the completion of the Issuer's debt restructuring, Frank Giustra converted Silver Notes into 16,041,913 common shares representing 14.07% of the issued and outstanding shares of the Issuer and Radcliffe Corporation, a company owned and controlled by Frank Giustra, converted Silver Notes into 11,535,940 common shares representing 10.12% of the issued and outstanding common shares of the Issuer and converted Gold Notes into US$260,371 2020 Convertible Debentures representing 1.76% of the Issuer's outstanding 2020 Convertible Debentures.

As a result of the conversions, Frank Giustra directly and indirectly, owns and or controls, in aggregate 25,577,853 common shares of the Issuer, representing 24.18% of the current issued and outstanding shares of the Issuer and would own 29,580,707 common shares, representing 25.49% on a partially diluted basis, assuming the conversion of US$260,371 2020 Convertible Debenture at US$0.13.

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 Company, 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 reports 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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