TORONTO, Feb. 5, 2015 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM, OTC: TPRFF) announced today that it has sent US$1,058,062 to the trustee to fund the monthly interest payments that will be made on February 27, 2015 on its Senior Secured Gold-Linked Notes due 2017 and its Senior Unsecured Silver-Linked Notes due 2018. This represents interest payments of approximately US$7.67 and US$3.70 per US$1,000 face value of the Gold-Linked and Silver-Linked Notes, respectively. As previously announced, the Company is resuming its monthly interest payments on the Gold-Linked Notes, and commencing monthly interest payments on its Silver-Linked Notes, as it continues to work with its financial advisor to resolve the current default on the Gold-Linked and Silver-Linked Notes.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato Operations. Gran Colombia is currently advancing a project to develop a modern, large-scale, gold and silver mine at its Segovia operations.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects and, specifically, statements concerning anticipated growth in annual gold production and reduction of cash costs. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2014, which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE Gran Colombia Gold Corp.
For further information: Mike Davies, Chief Financial Officer, (416) 360-4653, [email protected]