Caldas Gold Announces Terms for Private Placement Offering of Up to US$90 Million of Subscription Receipts

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[{"type":"text","content":" TORONTO, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Caldas Gold Corp. (TSX-V: CGC; OTCQX: ALLXF) (“Caldas Gold” or the “Company”) announced today that it has settled terms for the proposed issuance and sale of up to 90,000 subscription receipts (“Subscription Receipts”) at a price of US$1,000 per Subscription Receipt (the “Issue Price”), on a fully-marketed private placement basis, for aggregate gross proceeds to Caldas Gold of up to US$90,000,000 (the “Offering”). The terms of the Offering were negotiated with Scotiabank and Canaccord Genuity Corp., as co-lead agents (the “Co-Lead Agents”) on behalf of a syndicate of agents including Stifel Nicolaus Canada Inc. and Red Cloud Securities Inc. (collectively with the Co-Lead Agents, the “Agents”), and will be reflected in an agency agreement to be entered into between the Company and the Agents on or prior to closing of the Offering. Serafino Iacono, Chairman and CEO of Caldas Gold, commented, “We are very pleased to announce the determination of the final terms of this Offering and to move it towards closing. We anticipate raising US$80 million to US$90 million in the Offering, which will complete yet another step in securing the financing required to fund the expansion of Caldas Gold’s mining operations in the Deeps Zone at our Marmato Project located in the Department of Caldas, Colombia.” Closing of the Offering is expected to occur on or about August 26, 2020, or such other date as the Co-Lead Agents and Caldas Gold may agree (the \"Closing Date\"). The net proceeds of the Offering are expected to be used by Caldas Gold for the expansion of the underground mining operations at its Marmato Project and to pay interest on the Notes (as described below) during the first two years following their issuance. Description of Notes and Warrants Underlying the Subscription Receipts The Subscription Receipts shall be issued pursuant to a subscription receipt agreement (the “Subscription Receipt Agreement”) to be entered into on the Closing Date among the Company, the Co-Lead Agents and Odyssey Trust Company as subscription receipt agent (the “Subscription Receipt Agent”). Upon the satisfaction of certain release conditions (the “Release Conditions”, as described in more detail below) to be contained in the Subscription Receipt Agreement (the “Conversion Event”), each Subscription Receip...

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