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The firm has granted incentive stock options to purchase an aggregate of up to 1.3 million common shares.

In all, the Canadian mining company issued 13,500,000 units, for $0.10 apiece.

The credit agreement is expected to provide immediate access to $100 million USD for project development, construction, and working capital.

Gallagher joins at the time when the company looks to further develop its Buriticá mining operations in central Colombia.

The mining firm has decided that commercial production at its remaining sites is not viable.

The authorization allows Continental Gold to expand its current mining site and build a processing plant capable of handing up to 3,200 tonnes per day.

New Colombia Resources recently announced that its has discovered a new "outcropped coal seam" that is more than 10 feet wide.

"This company will be disciplined and margin-focused, not simply production-driven," says Pacific Chairman Gabriel de Alba.

Pacific believes the affected common shares will be listed on the Toronto Stock Exchange on November 3

If the story plays out as expected, Bancolombia believes that 2015 and 2016 will end up being bumps in the road in an ongoing growth trajectory.