Gran Colombia Panama definition
Examples of Gran Colombia Panama in a sentence
However, as a result of the share exchange described above, control of the combined companies passed over to the former shareholders of Gran Colombia Panama.
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On August 18, 2010, JVCo used these funds from Gran Colombia Panama to complete the Frontino Acquisition.On August 19, 2010 (the acquisition date), the Principal Amount was converted into such number of shares of the JVCo that resulted in Gran Colombia Panama holding a 95% interest in JVCo with Medoro retaining a 5% interest.
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Gran Colombia Panama had issued 8,750,000 seed common shares in early 2010 and had completed two financings in 2010 as follows:• On April 27, 2010, Gran Colombia Panama completed a brokered private placement (“First Private Placement”) pursuant to which 22,500,000 common shares were issued for cash at a purchase price of CA$1.00 per share for gross proceeds, before issue costs, of $22.2 million.
The transaction has been accounted for as a reverse takeover with Gran Colombia Panama being the continuing company for accounting purposes.
On August 19, 2010, the Company acquired all of the issued and outstanding securities of Gran Colombia Panama by way of a three-cornered amalgamation (the “Gran Colombia Transaction”) in exchange for the issuance of 203,125,000 common shares of the Company, the issuance of 85,937,493 share purchase warrants and the issuance of 11,662,500 compensation options as described in Note 11(d).
On August 19, 2010, the Company acquired all of the issued and outstanding securities of Gran Colombia Panama by way of a three-cornered amalgamation (the “Gran Colombia Transaction”) in exchange for the issuance of 203,125,000 common shares of the Company, the issuance of 85,937,493 share purchase warrants and the issuance of 11,662,500 compensation options as described in Note 17(d).
On August 13, 2010, Gran Colombia Panama completed a brokered private placement (“Second Private Placement”) of subscription receipts for gross proceeds of $263.4 million as described in Note 9(b).
In exchange for the subscription receipts, Gran Colombia Panama issued 171,875,000 common shares and 85,937,493 share purchase warrants, each warrant entitling the holder to acquire one common share at CA$2.60 per warrant for a period of five years.