| Sentient Group Converts Remaining Debt To Golden Minerals Shares | |
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GOLDEN, Colo., June 13, 2016/PRNewswire/ -- Golden Minerals Company (NYSE MKT: AUMN; TSX: AUM) ('Golden Minerals' or 'the Company') is pleased to announce that The Sentient Group ('Sentient') has elected to convert the remaining principal and interest due under the terms of a convertible loan into common stock, effective June 10, 2016. After the conversion, Golden Minerals will carry no debt on its books.
On June 10, 2016, Sentient converted approximately $1.16 millionprincipal and accumulated interest into 4,011,740 shares of Golden Minerals common stock. The conversion price was equal to 90% of the 15-day VWAP (volume weighted average price) immediately preceding the loan's original issue date. After conversion, Sentient holds approximately 46.8 percent of Golden Minerals' 88.9 million shares of issued and outstanding common stock.
Golden Minerals initially received $5.0 millionin a secured, one-year convertible loan from The Sentient Group on October 27, 2015. Conversion of the principal plus interest into shares of Golden Minerals common stock was approved at a special meeting of stockholders held on January 19, 2016. Sentient converted approximately $3.9 millionprincipal plus $0.1 millionaccumulated interest into 23,355,000 Golden Minerals shares on February 11, 2016.
About Golden Minerals
Golden Minerals is a Delawarecorporation based in Golden, Colorado. The Company is primarily focused on acquiring and advancing mining properties near its Velardenaprocessing plants and the exploration of properties in Mexicoand Argentina.
For additional information please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler
Director of Investor Relations
(303) 839-5060
[email protected]
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SOURCE Golden Minerals Company
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Golden Minerals
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PRODUCER |
CODE : AUM.TO |
ISIN : US3811191069 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golden Minerals is a gold and silver development stage company based in United states of america. Golden Minerals produces gold, silver, copper, lead and zinc in Mexico, develops silver in Argentina, and holds various exploration projects in Mexico. Its main assets in production are SAN JUANES, SAN MATEO, SANTA JUANA and VELARDENA DISTRICT in Mexico, its main asset in development is EL QUEVAR in Argentina and its main exploration properties are SAN MIGUEL, SAN PEDRO, ZACATECAS, MATEHUAPIL, LA PINTA, SAN DIEGO, NAZAS and TERNERAS in Mexico, ELISA DE BORDOS in Chile and COCHABAMBA, JEHUAMARCA, CHAVIN and PALCA in Peru. Golden Minerals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 76.2 millions as of today (US$ 58.5 millions, € 54.2 millions). Its stock quote reached its highest recent level on March 05, 2010 at CA$ 9.99, and its lowest recent point on January 22, 2016 at CA$ 0.19. Golden Minerals has 84 690 333 shares outstanding. |