May 11 (Reuters) - Gran Colombia Gold Corp GCM.TO :
* PRESS RELEASE - GRAN COLOMBIA GOLD PROPOSES TO MERGE WITH GUYANA GOLDFIELDS AND GOLD X TO CREATE A HIGH-GROWTH, LATIN AMERICAN-FOCUSED INTERMEDIATE GOLD PRODUCER
* GRAN COLOMBIA GOLD CORP - PROPOSES TO ACQUIRE GUYANA GOLDFIELDS AT A SHARE EXCHANGE RATIO OF 0.142 GRAN COLOMBIA SHARES
* GRAN COLOMBIA GOLD CORP - PROPOSED OFFER FOR GUYANA GOLDFIELDS IMPLYING A VALUE OF C$0.90 PER SHARE
* GRAN COLOMBIA GOLD CORP - CAN PROVIDE GUYANA GOLDFIELDS WITH A LOAN OF UP TO US$15 MILLION
* GRAN COLOMBIA GOLD CORP - WILL ACQUIRE REMAINING 81% OF GOLD X AT A SHARE EXCHANGE RATIO OF 0.500 GRAN COLOMBIA SHARES FOR EACH GOLD X SHARE
* GRAN COLOMBIA GOLD CORP - BOARD OF DIRECTORS OF GOLD X UNANIMOUSLY APPROVED GOLD X ARRANGEMENT AGREEMENT