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The firm says Frank Giustra's "support will be invaluable in unlocking the full potential of the Mocoa copper-molybdenum porphyry deposit."

The consolidation will be on the basis of one new post-consolidation common share for every 10 pre-consolidation common shares, per Libero.

Rain and severe weather have led to the collapse of at least 14 houses, but no deaths, significant injuries, or missing people have been reported.

More than half of the total, or about $2.3 million USD, will fund the construction of a new administrative center for Mocoa.

Floodwaters in Bagadó reportedly reached more than meter high, while the municipalities of Cértegui, Lloró, and Nuquí also experienced significant flooding.

Heavy rains caused a landslide that killed at least 16 and affected more than 500 families and 80 homes across 16 primarily lower-class neighborhoods.

There were no injuries to any of the four crew on board, but one of El Dorado’s runways remained closed for roughly two hours.

"My heart — our heart, the heart of all Colombians — is with the victims of this tragedy," said President Santos.