- GCM has acquired US$35,000,000 of unsecured debenture units of Aris Gold Acquisition Corp, a wholly-owned subsidiary of Aris Gold Corporation
- The debenture units pay 7.5 per cent interest per annum and expire on October 12, 2023
- Aris Gold will use the US$35 million principal amount to pay a portion of a 20 per cent ownership interest in the Soto Norte gold project in Colombia
- GCM Mining is a mid-tier gold producer engaged in mine building and operating in Latin America
- The share price of GCM Mining Corp. remained unchanged at $5.68 at 10:27 AM ET
GCM Mining Corp. (GCM) has acquired US$35,000,000 of convertible debenture units in Aris Gold Acquisition Corp.
Aris Gold Acquisition Corp. is a wholly-owned subsidiary of Aris Gold Corporation.
Aris Gold will use the US$35 million principal amount to pay a portion of the purchase price for the acquisition of a 20 per cent ownership interest in the Soto Norte gold project in Colombia.
The debenture shall pay interest at 7.5 per cent per annum, payable monthly, and can be converted into common shares of Aris at a conversion price of US$1.75.
The debenture units have an expiry date of October 12, 2023.
GCM Mining is a mid-tier gold producer engaged in mine building and operating in Latin America.
The share price of GCM Mining Corp. remained unchanged at $5.68 at 10:27 AM ET.
