Gran Colombia Gold Corp. (TSX:GCM) announced a non-brokered private placement of up to 7,142,858 units at a price of CAD 5.60 per unit for total proceeds of up to CAD 40,000,005 on January 27, 2020. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into a full common share at CAD 6.50 per share for a period of three years from the date of issuance. The transaction is subject to regulatory approvals, including from the Toronto Stock Exchange, and is expected to close two business days following receipt of such approval.