TORONTO–(BUSINESS WIRE)–Sun Valley Investments AG (“Sun Valley”) today announces the commencement of a 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 5,500 Colombian pesos (“COP”), equivalent to approximately CAD$1.79 as of June 13th, 2025 (the “Reference Date”), the last business day prior to the commencement of the OPA, payable in cash.
A more detailed description of the OPA, which includes where and how Mineros shareholders can obtain a copy of documents relating to the OPA (the “Offer Booklet”) and instructions outlining how Mineros shareholders who hold their Common Shares in Canada can participate in the OPA, is attached to this news release as Appendix A and available at the following link: https://sunvalleyinv.com/opa/. Sun Valley is relying 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 Offer.
Immediately prior to the OPA, Sun Valley beneficially owned and exercised control over 172,122,705 Common Shares, representing 57.42% of the issued and outstanding Common Shares, valued at CAD $ 437,191,670.70 based on the closing price of Mineros shares on the Toronto Stock Exchange (“TSX”) on the Reference Date. Assuming the successful completion of the OPA, Sun Valley will acquire ownership and control of a minimum of 23,978,993 Common Shares, representing approximately 8.0% of the issued and outstanding Common Shares, and a maximum of 32,971,115 Common Shares, representing approximately 11.0% of the issued and outstanding Common Shares, pursuant to the OPA, unless the OPA is amended in accordance with the terms described in the Offer Booklet. Assuming the successful completion of the OPA, following the OPA Sun Valley will own and exercise control over a minimum of 196,101,698 Common Shares and a maximum of 205,093,820 Common Shares, respectively representing approximately 65.42% and 68.42% of the issued and outstanding Common Shares, respectively, and valued at CAD $498,098,312.92 and CAD$520,938,302.80, respectively, based on the closing price of Mineros shares on the TSX on the Reference Date. The total aggregate consideration paid by Sun Valley for Common Shares pursuant to the OPA will be a minimum of COP 131,884,461,500, equivalent to approximately CAD $43,015,327.12 as of the Reference Date, and a maximum of COP 181,341,132,500, equivalent to approximately CAD $59,146,074.11 as of the Reference Date.
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.
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.
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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Article published on Businesswire.com, click here.
Contacto
For more information about Sun Valley, please contact:
Camilo Alvarez
Email: calvarez@sunvalleyinv.com
Phone: +1 281 994 7031
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