Sun Valley Investments AG Announces the Successful Completion of the Offer to Purchase Shares of Mineros S.A.
December 10, 2024 06:00 AM Eastern Standard Time
TORONTO–(BUSINESS WIRE)–Sun Valley Investments AG (“Sun Valley”) today announces that its previously announced public offer to purchase common shares (“Common Shares”) of Mineros S.A. (“Mineros” or the “Company”, TSX: MSA, CB: MINEROS) by way of an Oferta Pública de Adquisición (the “OPA” or the “Offer”) through the facilities of the Colombia Securities Exchange at a price per Common Share equal to CAD $0.975 payable in cash was successfully completed on December 9, 2024.
Sun Valley acquired a total of 17,573,445 Common Shares (the “OPA Shares”) pursuant to the OPA for total aggregate consideration of CAD $17,134,108.88. The completion of the OPA also marks the successful completion of the previously announced transaction with Mercantil Colpatria and represents a key milestone in Sun Valley’s commitment to strategic investments in the metals and mining sector.
Immediately prior to the OPA, Sun Valley beneficially owned and exercised control over 74,904,378 Common Shares, representing 24.99% of the issued and outstanding Common Shares. Following the completion of the OPA, Sun Valley beneficially owns and exercises control over 92,477,823 Common Shares representing approximately 30.85% of the issued and outstanding Common Shares as of December 10, 2024.
Sun Valley acquired the OPA Shares and will hold its Common Shares for investment purposes and will evaluate its investment in Mineros on an ongoing basis and may increase or decrease its holdings in Mineros and otherwise engage with the Company in the future, subject to market conditions and other relevant factors. Sun Valley relied on the foreign take-over bid exemption set out in Section 4.4 of National Instrument 62-104 – Take-Over Bids and Issuer Bids in connection with the OPA.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning Systems and Related Take-Over Bids and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing information with respect to the foregoing matters (“Early Warning Report“). The Early Warning Report will be filed and made available under the SEDAR+ profile of Mineros at www.sedarplus.ca.
The head office address of Mineros is Carrera 43A No. 14-109, Piso 6, Edificio Nova Tempo, Medellin, Colombia.
Sun Valley is a corporation existing under the laws of Switzerland. The head office address of Sun Valley is Bahnhofplatz 6300, Zug, Switzerland.
Dentons Cardenas & Cardenas Abogados S.A.S (Colombia) and Dentons Canada LLP acted as legal advisors to Sun Valley in connection with the Offer.
About Sun Valley
Sun Valley is a private investment firm focused on the metals and mining industry with portfolio companies and branch offices in the Americas, Europe and Asia. Sun Valley’s senior leadership team has several decades of experience in mining and investment companies and combines investment skills across diverse asset classes with hands-on experience at both senior and junior companies in the precious metals mining and refining industry. The firm finances the entire precious metals supply chain: mineral exploration, mine construction, production, processing and refining.
Contacts
For further information relating to Sun Valley or to obtain a copy of the Early Warning Report, please contact:
Camilo Alvarez
email: [email protected] phone: +1 281 994 7031