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Gran Colombia Gold Provides Update on Share Consolidation Proposal and Details for the Fourth Quarter and Year End 2016 Results Webcast

TORONTO, ON–(Marketwired – March 23, 2017) – Gran Colombia Gold Corp. (TSX: GCM) announced today that it will begin disseminating information tomorrow related to the Special Meeting of Shareholders to be held on April 24, 2017 to consider its proposal to consolidate its issued and outstanding common shares and to approve the proposed extension of the Company’s Convertible Debentures due 2020, as further described in the Company press release dated March 6, 2017. The Company also announced that after further feedback from its stakeholders, it has revised the proposal such that the consolidation of the issued and outstanding common shares will now be on the basis of one post-consolidation share for every 15 pre-consolidation shares (1:15), subject to approval of the Toronto Stock Exchange.