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Gran Colombia closes C$15m investment by Eric Sprott

6th November 2019

By: Creamer Media Reporter

     

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TSX-listed Gran Colombia Gold has closed its previously announced investment by Eric Sprott in a non-brokered private placement.

Through the private placement, 2176423 Ontario, a corporation that is beneficially owned by Sprott, acquired 3 260 870 units of Gran Colombia at a price of C$4.60 a unit for a total investment of C$15-million.

Prior to the placement, Sprott did not own or control any shares of Gran Colombia. As a result of the private placement, he now beneficially owns or controls 3 260 870 common shares and 3 260 870 warrants of the company representing 6.12% on a non-diluted basis and about 11.54% of the issued and outstanding common shares of Gran Colombia assuming the exercise of the warrants acquired in the private placement.

The company’s primary focus is in Colombia, where it is currently the largest underground gold and silver producer with several mines in operation at its Segovia and Marmato Operations.

Edited by Creamer Media Reporter

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