Canacol Power Ltd. Broadcasts Closing of $500 Million Non-public Providing of 5.75% Senior Notes


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CALGARY, Alberta, Nov. 24, 2021 (GLOBE NEWSWIRE) — Additional to its information launch dated November 16, 2021, Canacol Power Ltd. (“Canacol” or the “Company”) (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) is happy to announce that it has accomplished its beforehand introduced providing of U.S. $500 million combination principal quantity of 5.75% senior unsecured notes due 2028 (the “Notes”).

Canacol intends to make use of the proceeds of the Providing to (i) refinance its excellent 7.250% Senior Notes due 2025 (the “2025 Notes”) pursuant to the Tender Supply and Consent Solicitation described in Canacol’s press releases dated November 8, 2021 and November 22, 2021 (the “Tender Supply”), (ii) pay the charges and bills of the Tender Supply, (iii) to refinance sure different current indebtedness of Canacol, and (iv) for basic company functions, together with capital expenditures.

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By changing the 2025 Notes, Canacol will profit from (i) changing the 2025 Notes that bear an rate of interest of seven.250% with the 2028 Notes that bear an rate of interest of 5.75%; (ii) a Notice indenture that can comprise much less restrictive covenants; (iii) deferring the maturity date of Canacol’s most vital indebtedness by three years; and (iv) further liquidity for use in direction of capital expenditures.

The Notes have been provided and bought solely to certified institutional patrons in the USA pursuant to Rule 144A underneath the Securities Act of 1933, as amended (the “Securities Act”), to non-U.S. individuals in transactions outdoors the USA pursuant to Regulation S underneath the Securities Act and pursuant to sure prospectus exemptions in Canada. The Notes haven’t been registered underneath the Securities Act, or the securities legal guidelines of every other jurisdiction, and is probably not provided or bought in the USA absent registration or an relevant exemption from registration necessities. This press launch is neither a suggestion to promote nor a solicitation of a suggestion to purchase the Notes, nor shall there be any sale of those securities in any state or jurisdiction through which such a suggestion, solicitation or sale can be illegal previous to the registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.

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About Canacol

Canacol is a pure fuel exploration and manufacturing firm with operations targeted in Colombia. The Company’s frequent inventory trades on the Toronto Inventory Change, the OTCQX in the USA of America, and the Colombia Inventory Change underneath ticker image CNE, CNNEF, and CNE.C, respectively.

Ahead-Wanting Statements

This information launch accommodates “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Act of 1995 and relevant Canadian securities laws. All statements apart from statements of historic reality contained on this information launch could also be forward-looking statements. Such statements can typically be recognized by phrases comparable to “might,” “goal,” “might,” “would,” “will,” “ought to,” “imagine,” “count on,” “anticipate,” “plan,” “intend,” “foresee” and different comparable phrases or phrases. Specifically, forward-looking statements herein embrace, however usually are not restricted to, statements regarding the expectations concerning using proceeds of the proposed providing. Such forward-looking statements contain identified and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated within the forward-looking statements. Canacol believes that the expectations mirrored in such forward-looking statements are cheap, however no assurance will be provided that these expectations will show to be appropriate and such forward-looking statements shouldn’t be unduly relied upon. The forward-looking statements are expressly certified of their entirety by this cautionary assertion. The forward-looking statements are made as of the date of this information launch and Canacol assumes no obligation to replace or revise them to replicate new occasions or circumstances, besides as expressly required by relevant securities regulation. Additional data concerning dangers and uncertainties regarding Canacol and its securities will be discovered within the disclosure paperwork filed by Canacol with the securities regulatory authorities, accessible at

For extra data please contact: Investor Relations South America: +571.621.1747 [email protected] International: +1.403.561.1648 [email protected]

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