Gran Colombia Gold Takes 36% Stake In Denarius Silver Corp
Gran Colombia Gold (TSX: GCM) this morning announced the diversification of its asset portfolio. The company has acquired a 36% stake in that of Denarius Silver Corp (TSXV: DSLV), a new issuer on the TSX Venture.
The stake in the company follows the sale of certain Zancudo Mining assets, as per a a purchase agreement entered into by the company back on November 20, 2020. The transaction saw the sale of the firms Gran Colombia Gold Titiribi Corp assets for a total figure of $12.2 million, which was satisfied via the issuance of 27.0 million common shares at a price of $0.45 per common share.
That transaction formally closed on Friday, in connection with the completion of Denarius’ reverse-takeover transaction. Notably, Gran Colombia also invested in the associated private placement offering, having acquired 6.67 million subscription receipts of the company at a cost of roughly $3.0 million, with receipts sold at a price of $0.45 per each.
In total, Gran Colombia has holdings in the new firm, which is to begin trading March 1, 2021, consisting of a total 33.67 million shares, good for a 36.15% stake in the firm.
Gran Colombia Gold last traded at $5.91 on the TSX.
Information for this briefing was found via Sedar and Gran Colombia Gold Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
