Mineros Announces Exercise of over-Allotment Option IN Connection with Its Initial Public Offering IN Canada a Total of $34.3M Raised IN Canada and Colombia
MINEROS ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION IN CONNECTION WITH ITS INITIAL
PUBLIC OFFERING IN CANADA
A TOTAL OF $34.3M RAISED IN CANADA AND COLOMBIA
(all amounts expressed in U.S. dollars unless otherwise stated)
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
Medellin, Colombia – November 25, 2021 – Mineros S. A. (TSX:MSA) (MINEROS:CB) (“ Mineros ” or the
“Company ”), a Latin American gold mining company headquartered in Medellin, Colombia, is pleased to
announce that further to its initial public offering (the “ Canadian Offering ”) of 22,222,223 common shares
in Canada, which closed on November 19, 2021, the U nderwriters (as defined below) have partially
exercised their over-allotment option to purchase a n additional 3,050,000 common shares at a price of
US$0.90 (being C$1.1207) per share.
The sale of these shares was completed today for gross proceeds to the Company of approximately US$2.8
million (being approximately C$3.4 million), bringi ng the total gross proceeds of the Canadian Offerin g
and the over-subscribed concurrent public offering in Colombia (the “Colombian Offering ”) to US$34.3
million.
Andrés Restrepo, President and CEO of Mineros, comm ented “Last week we announced the news that
Mineros began trading on the Toronto Stock Exchange and that our Colombian Offering was over-
subscribed. The successful completion of both offerings, including the closing today attests to the strong
interest in Mineros in both the markets we are listed on.”
“With an almost 50-year history of gold mining in Colombia, Mineros is a company that is well known to
investors on the Colombia Stock Exchange, but less so to international investors. We have operations that
are unique, not only in the type of mining, but thr ough our community-based approach to mining and
sustainability. We mine in an environmentally and socially responsible manner, for the well-being of all.”
Restrepo continued.
The Company expects to use the net proceeds from the Canadian Offering and the Colombian Offering to
repay all of the existing indebtedness incurred in May 2021 in connection with the consolidation of a 100%
interest in its Luna Roja exploration target in Nicaragua, and to pursue its growth strategies.
The Canadian Offering was led by Scotiabank and Sprott Capital Partners LP as co-lead underwriters and
joint bookrunners (together, the “ Underwriters ”).
Gowling WLG (Canada) LLP in Canada and DLA Piper Martinez Beltran in Colombia acted as legal counsel
to Mineros, and Fasken Martineau DuMoulin LLP acted as legal counsel to the Underwriters.
The common shares have not been, nor will they be, registered under the United States Securities Act of
1933 (the “ U.S. Securities Act ”) or any state securities laws. Accordingly, the common shares may not be
offered or sold in the United States unless an exem ption from the registration requirements of the U.S .
Securities Act is available and such offer or sale is made in compliance with any applicable state securities
laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be
unlawful. No securities regulatory authority has ei ther approved or disapproved of the contents of thi s
news release.
ABOUT MINEROS S.A.
Mineros is a Latin American gold mining company hea dquartered in Medellin, Colombia. The Company
has a diversified asset base, with mines in Colombi a, Nicaragua and Argentina and a pipeline of
development and exploration projects throughout the region.
The board of directors and management of Mineros ha ve 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 5 0 years Mineros has operated with a focus on safety
and sustainability at all our 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”.
For further information, please contact:
Fiona Childe
Investor Relations
(647) 496-3011
Patricia Ospina
Investor Relations Manager
(+57) 42665757
In connection with its listing application, the Company has been granted an exemption from the individual
voting and majority voting requirements applicable to listed issuers under TSX policies, on grounds th at
compliance with such requirements would constitute a breach of Colombian laws and regulations which
require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to
an electoral quotient system. For further informati on, please see the Company’s final prospectus dated
November 11, 2021, available on SEDAR at www.sedar.com.
Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" (collectively,
"forward-looking information ") within the meaning of applicable securities laws . Forward-looking
information may relate to the Company's future fina ncial outlook and anticipated events or results and
may include information regarding the Company's financial position, business strategy, growth strategies,
addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objecti ves.
Particularly, information regarding the Company's e xpectations of future results, performance,
achievements, prospects or opportunities or the mar kets in which the Company operates is forward-
looking information. In some cases, forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "targets", "expects", "budgets", "scheduled", "estimates", "outlook",
"forecasts", "projects", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such
words and phrases or statements that certain actions, events or results "may", "could", "would", "might",
or "will" occur. In addition, any statements that r efer to expectations, intentions, projections or ot her
characterizations of future events or circumstances contain forward-looking information. Statements
containing forward-looking information are not hist orical facts but instead represent management's
expectations, estimates and projections regarding f uture events or circumstances. The forward-looking
information contained herein includes, but is not limited to the use of proceeds.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions
that, while considered by the Company to be appropr iate and reasonable as of the date of this press
release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may
cause the actual results, level of activity, perfor mance or achievements to be materially different fr om
those expressed or implied by such forward-looking information. Such risks and uncertainties include, but
are not limited to, market conditions, the price of gold, currency fluctuations, and the factors discu ssed
under “Risk Factors” in the final prospectus of the Company dated November 11, 2021 (the “ Final
Prospectus ”), available on SEDAR at www.sedar.com.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying
forward-looking information prove incorrect, actual results or future events might vary materially fro m
those anticipated in forward-looking information. T he opinions, estimates or assumptions referred to
above and the risk factors described in the "Risk F actors" section of the Final Prospectus should be
considered carefully.
Although the Company has attempted to identify important risk factors that could cause actual results to
differ materially from those contained in forward-looking information, there may be other risk factors not
presently known to the Company or that the Company presently believes is not material that could also
cause actual results or future events to differ mat erially from those expressed in such forward-lookin g
information. There can be no assurance that such 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, which speaks only as of the date made.
Forward-looking information contained in this press release represents the Company's expectations as of
the date of this press release (or as of the date they are otherwise stated to be made), and are subject to
change after such date. The Company disclaims any i ntention or obligation or undertaking to update or
revise any forward-looking information whether as a result of new information, future events or
otherwise, except as required under applicable securities laws.