Sun Valley Investments AG (“Sun Valley”) today announces the successful allocation of its previously announced improved 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 “Improved OPA” or the “Offer”) through the facilities of the Colombia Securities Exchange. Sun Valley had offered to acquire a minimum of 1 Common Share of the Issuer, representing 0.00000033% of the subscribed, paid, and outstanding Common Shares, and a maximum of 77,931,725 Common Shares of the Company, representing 26% of the subscribed, paid, and outstanding Common Shares at a price per Common Share of 5,500 Colombian pesos (“COP”), equivalent to approximately CAD $1.92 on the date of the announcement of the improved OPA, payable in cash.
According to bulletin No. 053 dated March 19th, 2025, issued by the Colombia Securities Exchange, Sun Valley’s offer was massively oversubscribed. A total of 118,921,827 Common Shares, representing 39.68% of the outstanding Common Shares were tendered. Sun Valley will purchase 77,931,725 Common Shares of the tendered shares, representing 26 percent of the outstanding shares. The total aggregate consideration to be paid by Sun Valley will be COP 428,624,487,500, equivalent to approximately CAD $149,628,912 as of the date of the announcement of the Improved OPA.
Vikram Sodhi, Managing Partner of Sun Valley Investments, stated, “We are pleased to allocate more funds to our successful investment in Mineros SA. The favorable outcome of our latest public tender offer reaffirms our dedication to supporting Mineros’ operations in Antioquia, Colombia, Bonanza, Nicaragua and across Latin America.
We are committed to continuing the vital environmental and social programs, along with the community engagement initiatives that have contributed to the strong results reported in the Company’s 2024 performance. At Sun Valley, we share Mineros’ core values and principles. Our objective is to foster sustainable growth and opportunity in the largely untapped Colombian and Nicaraguan gold mining sectors, as well as in the wider region.”
Immediately prior to the OPA, Sun Valley beneficially owned and exercised control over 92,477,823 Common Shares, representing 30.85% of the issued and outstanding Common Shares and upon settlement of the Offer -which is expected to occur on March 25th, 2025- Sun Valley will own and exercise control over 170,409,548 Common Shares representing approximately 56.85% of the issued and outstanding Common Shares as of March 19, 2025.
Sun Valley mantendrá sus Acciones Ordinarias con fines de inversión y evaluará su inversión en Mineros de manera continua. Podría aumentar o reducir sus participaciones en Mineros y de otro modo interactuar con la Compañía en el futuro, sujeto a las condiciones del mercado y otros factores relevantes.
La dirección de la oficina principal de Mineros es Carrera 43A No. 14-109, Piso 6, Edificio Nova Tempo, Medellín, Colombia.
Sun Valley es una corporación existente bajo las leyes de Suiza. La dirección de la oficina principal de Sun Valley es Bahnhofplatz 6300, Zug, Suiza.
Dentons Cardenas & Cardenas Abogados S.A.S (Colombia) y Dentons Canada LLP actuaron como asesores legales de Sun Valley en relación con la Oferta.
Acerca de Sun Valley
Sun Valley es una firma de inversión privada enfocada en la industria de metales y minería, con compañías en su portafolio y oficinas en las Américas, Europa y Asia. El equipo de liderazgo senior de Sun Valley tiene varias décadas de experiencia en empresas de minería e inversión, y combina habilidades de inversión a través de diversas clases de activos con experiencia práctica tanto en empresas grandes como pequeñas en la industria de minería y refinación de metales preciosos. La firma financia toda la cadena de suministro de metales preciosos: exploración mineral, construcción de minas, producción, procesamiento y refinación.
Article published in Businesswire.com, click to read.
Contactos
Para mayor información relacionada con Sun Valley, por favor contacte a:
Camilo Álvarez
email: calvarez@sunvalleyinv.com
phone: +1 281 994 7031
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