Gran Colombia gives details of June 30 payment on silver, gold notes

By Kali Hays

New York, June 8 – Gran Colombia Gold Corp. announced the details of the interest payments it will make on June 30 related to the company’s senior secured gold-linked notes due 2017 and its senior unsecured silver-linked notes due 2018.

According to a company news release, gold noteholders of record as of June 19 will receive approximately $8.77 per $1,000 face value of the notes, leaving a balance of interest in arrears after the June payment of $17.26 per $1,000 face value of the gold notes.

Silver noteholders of record as of June 19 will receive approximately $4.38 per $1,000 face value of the notes, which will be applied against the interest in arrears from Dec. 31, 2014, leaving a balance of $4.66 per $1,000 face value of silver notes after the June payment.

Gran Colombia said the interest payments are being made while it continues to work on a comprehensive plan moving forward.

The company also said that an $800,000 sale of its 60% interest in a CIIGSA refinery operating in Medellin, Colombia, closed on May 29.

Gran Colombia is a Toronto-based gold and silver exploration, development and production company with its primary focus in Colombia.

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