Gran Colombia Announces Termination of Arrangement Agreement With Gold X Mining Corp.
May 25 2020 - 6:00AM
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announces that,
further to its news release dated May 11, 2020, it has decided to
no longer pursue the acquisition of all of the issued and
outstanding common shares of Guyana Goldfields Inc. As a
result, Gran Colombia and Gold X Mining Corp. (“Gold X”) have
agreed to terminate the Plan of Arrangement between Gran Colombia
and Gold X dated May 11, 2020.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based mid-tier gold
producer with its primary focus in Colombia where it is currently
the largest underground gold and silver producer with several mines
in operation at its high-grade Segovia Operations. Gran Colombia
owns approximately 74% of Caldas Gold Corp., a Canadian mining
company currently advancing a prefeasibility study for a major
expansion and modernization of its underground mining operations at
its Marmato Project in Colombia. Gran Colombia’s project pipeline
includes its Zancudo Project in Colombia together with an
approximately 19% equity interest in Gold X Mining Corp. (TSXV:
GLDX) (Guyana – Toroparu) and an approximately 20% equity interest
in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut –
Meadowbank).
Additional information on Gran Colombia can be
found on its website at www.grancolombiagold.com and by reviewing
its profile on SEDAR at www.sedar.com.
For Further Information,
Contact:Mike DaviesChief Financial Officer(416)
360-4653investorrelations@grancolombiagold.com
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