Eric Sprott Announces Holdings in Gran Colombia Gold Corp.

Toronto, Ontario--(Newsfile Corp. - August 18, 2020) -  Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, sold 4,335,999 common shares of Gran Colombia Gold Corp., over the Toronto Stock Exchange (representing approximately 7.0% of the outstanding shares on non-diluted basis) at a price of approximately $6.5063 per share for aggregate consideration of approximately $28,211,310. The sale resulted in a partially diluted beneficial ownership change of approximately 8.0% since the filing of the last early report.

Mr. Sprott now owns and controls 100,000 shares and 6,832,319 share purchase warrants (representing approximately 0.2 % on a non-diluted basis and 10.1% on a partially diluted basis assuming exercise of such warrants). Prior to the disposition, Mr. Sprott beneficially owned and controlled 4,435,999 shares and 6,832,319 warrants (representing approximately 7.2% on a non-diluted basis and approximately 16.4% on a partially diluted basis).

The securities noted above are held for investment purposes.  Mr. Sprott has a long-term view of the investment and may acquire additional securities of Gran Colombia  including on the open market or through private acquisitions or sell securities of Gran Colombia  including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Gran Colombia is located at 401 Bay Street, Suite 2400, Toronto, ON M5H 2Y4. A copy of 2176423 Ontario’s early warning report will appear on Gran Colombia’s profile on SEDAR at www.sedar.com may also be obtained by calling (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).