August 19, 2010
Gran Colombia Gold Corp. (“Gran Colombia”) (TSX-V: GCM, formerly TPR), formerly Tapestry Resource Co. (“Tapestry”), a gold exploration, development and mining company, completed a reverse takeover transaction pursuant to which Tapestry acquired all of the issued and outstanding securities of Gran Colombia Gold, S.A. (“Gran Colombia S.A.”) in exchange for the issuance of securities of Tapestry by way of a three-cornered amalgamation and changed its name to Gran Colombia Gold Corp. Prior to the completion of the transaction, Gran Colombia S.A. completed a private placement of 687,500,000 subscription receipts for gross proceeds of $275,000,000. Each subscription receipt was automatically exchangeable for one unit of Gran Colombia S.A, consisting of one common share and one-half of one common share purchase warrant of Gran Colombia S.A. GMP Securities L.P. acted as agent in respect of the private placement.
The funds raised through the private placement were applied principally to fund the acquisition of the Frontino gold mines in Colombia, which was completed on August 17, 2010 and for other acquisitions of gold assets in Colombia.
Wildeboer Dellelce LLP acted for GMP Securities L.P. with a team that included Perry Dellelce, Derek Sigel, Peter Simeon, Alexandra Vasquez, Colin Grosskurth, Deepti Asthana, Steven Russo (corporate/securities) and Kevin Fritz (tax).