Colombian Superintendent of Finance Approves Public Tender Offer for Mineros Shares
Colombian Superintendent of Finance Approves Public Tender Offer for
Mineros Shares
MEDELLIN, Colombia--(BUSINESS WIRE)--February 17, 2025--Mineros S.A. (TSX:MSA,
MINEROS:CB) (“Mineros” or the “Company”) announces that the Colombian Superintendent
of Finance (the “SFC”) has accepted the application made by Sun Valley Investments AG (“Sun
Valley”) on January 28, 2025 to make a public tender offer in Colombia to acquire between 5%
and 9%, being a minimum of 14,986,870 and a maximum of 26,967,366, of the issued and
subscribed ordinary shares of Mineros (“Mineros Shares”) through the facilities of the
Colombia Stock Exchange (“BVC”) at an offering price of Colombian peso $4,600 per share,
payable in cash in Colombian pesos or U.S. dollars (the “Offer”).
The acceptance period for the Offer will start on February 21, 2025 and end on March 6, 2025,
but may be extended for up to 20 additional business days, in accordance with applicable
Colombian laws.
Sun Valley currently owns 92,477,823 Mineros Shares representing 30.85% of the Mineros
Shares.
In accordance with Colombian laws, trading in Mineros Shares on the BVC, which was halted
since January 27, 2025, when the SFC issued a public notice announcing Sun Valley’s
application to make a public tender offer, resumed trading today, February 17, 2025. Trading in
Mineros Shares on the Toronto Stock Exchange (“TSX”) was not halted in connection with the
Offer and is expected to continue unaffected.
ABOUT MINEROS S.A.
Mineros is a gold mining company headquartered in Medellin, Colombia. The Company has a
diversified asset base, with relatively low-cost mines in Colombia and Nicaragua and a pipeline
of development and exploration projects throughout the region.
The board of directors and management of Mineros have extensive experience in mining,
corporate development, finance and sustainability. Mineros has a long track record of
maximizing shareholder value and delivering solid annual dividends. For almost 50 years
Mineros has operated with a focus on safety and sustainability at all its operations.
Mineros’ common shares are listed on the Toronto Stock Exchange under the symbol “MSA”,
and on the Colombia Stock Exchange under the symbol “MINEROS”.
FORWARD-LOOKING STATEMENTS
This news release contains “forward looking information” within the meaning of applicable
Canadian securities laws. Forward looking information includes statements that use forward
looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”,
“plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”,
“continue”, “potential”, “view” or the negative or grammatical variation thereof or other
variations thereof or comparable terminology. Such forward looking information includes,
without limitation, statements with respect to the Offer, including its terms, timing, regulatory
approval, and acceptance period; halting and resumption of trading of Mineros Shares on the
TSX and BVC; the Company’s planned exploration, development and production activities; and
any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of
activity, results, performance or achievements.
Forward looking information is based upon estimates and assumptions of management
considering management’s experience and perception of trends, current conditions and expected
developments, as well as other factors that management believes to be relevant and reasonable in
the circumstances, as of the date of this news release. While the Company considers these
assumptions to be reasonable, the assumptions are inherently subject to significant business,
social, economic, political, regulatory, competitive and other risks and uncertainties,
contingencies and other factors that could cause actual actions, events, conditions, results,
performance or achievements to be materially different from those projected in the forward-
looking information. Many assumptions are based on factors and events that are not within the
control of the Company and there is no assurance they will prove to be correct.
For further information of these and other risk factors, please see the “Risk Factors” section of
the Company’s annual information form dated March 25, 2024, available on SEDAR+ at
www.sedarplus.com.
The Company cautions that the foregoing lists of important assumptions and factors are not
exhaustive. Other events or circumstances could cause actual results to differ materially from
those estimated or projected and expressed in, or implied by, the forward-looking information
contained herein. There can be no assurance that forward looking information will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on forward looking
information.
Forward-looking information contained herein is made as of the date of this news release and the
Company disclaims any obligation to update or revise any forward looking information, whether
as a result of new information, future events or results or otherwise, except as and to the extent
required by applicable securities laws.
Contacts
For further information, please contact:
Ann Wilkinson
Vice President, Investor Relations
+1 416-357-5511