TORONTO , April 10, 2012 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM, GCM.WT, GCM.WT.A) announces that, since the blackout period ended on April 2, 2012 following the release of the Company's 2011 financial results, co-chairman, Serafino Iacono, has bought a total of 2,022,890 shares in the company at an average price of $0.367 per share.The purchases bring Iacono's total holdings of common shares of Gran Colombia to 7,256,416 or 1.90 percent of the outstanding common shares of the Company. Continues here
- At the end of 2010, he held a total of 2,518,041 shares of GCM.to. For the record, at that time GCM.to traded at $2.18 so his holding was worth $5,489,329. And thirty-eight cents.
- At the end of 2011, he'd added plenty to his pile and held a total of 5,019,526 shares of GCM.to. For the record, at that time GCM.to traded at $0.52 (oops!) so his holding was worth $2,610,153. And fifty-two cents. It's worth noting however that 980,985 of those extra shares came from the mid-2011 merger that saw Medoro Resources move back into the Gran Colombia structure. Serafino** didn't buy those shares, he simply saw his holding in Medoro become GCM shares.
- Now April 2012 (right up to date!) and he holds a total of 7,256,416 shares of GCM.to. As GCM.to current trades at 36c (more oops!) his holding is worth $2,612,309 at current market prices. Oh, and seventy-six cents.