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 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.
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.
Acerca de Sun Valley
Sun Valley es una firma privada de inversión enfocada en la industria de metales y minería, con compañías de portafolio y oficinas en América, Europa y Asia. El equipo directivo de Sun Valley cuenta con varias décadas de experiencia en compañías mineras y de inversión, y combina habilidades financieras en diversas clases de activos con una amplia experiencia operativa en empresas tanto grandes como emergentes dentro de la industria de minería y refinación de metales preciosos. La firma financia toda la cadena de suministro de metales preciosos, incluyendo exploración mineral, construcción de minas, producción, procesamiento y refinación.
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Contacts
Para obtener más información relacionada con Sun Valley, por favor comuníquese con:
Camilo Alvarez
email: calvarez@sunvalleyinv.com
phone: +1 281 994 7031
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