Allocation Under Public Tender Offer to Purchase Mineros Shares Complete
Allocation Under Public Tender Offer to Purchase Mineros Shares Complete
MEDELLIN, Colombia--(BUSINESS WIRE)--December 11, 2024--Mineros S.A. (TSX:MSA, MINEROS:CB)
(“Mineros” or the “Company”) announces that the acceptance period of the public offer to purchase between
8.50% and 10.63% of the issued and subscribed ordinary shares of Mineros (“Mineros Shares”) made by Sun
Valley Investments AG (“Sun Valley”) by way of an public tender offer (Oferta Publica de Adquisition, or
“OPA”) through the facilities of the Colombia Stock Exchange (“BVC”) at an offering price of C$0.975 per
share, payable in cash in Colombian pesos or U.S. dollars (the “Offer”) ended on December 3, 2024.
According to bulletin No. 209 dated December 4, 2024, issued by the BVC, a total of 17,573,445 Mineros
Shares were tendered to the Offer, representing 5.86% of the issued and subscribed Mineros Shares. On
December 3, 2024 BVC informed that Sun Valley amended its Offer to reduce the minimum number of Mineros
Shares to be purchased to 17,573,445 Mineros Shares. All of the Mineros Shares tendered to the Offer were
allocated for purchase by Sun Valley at a price of C$0.975 per share, or approximately C$17,134,109 in the
aggregate. Sun Valley confirmed that settlement of the Offer occurred on December 9, 2024.
Immediately prior to the OPA, Sun Valley beneficially owned or exercised control or direction over 74,904,378
Mineros Shares, representing 24.99% of the issued and subscribed Mineros Shares. Upon settlement of the Offer,
assuming that there have been no other changes in Sun Valley’s ownership or control of Mineros Shares since the
date of the OPA, Sun Valley will beneficially own or exercise control or direction over 92,477,823 Mineros
Shares representing approximately 30.85% of the issued and subscribed Mineros Shares.
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 settlement of the Offer; Sun Valley’s ownership of or control or
direction over Mineros Shares; 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 in light of 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