Halcones y Palomas Report on Our Strengthened Position in Mineros S.A.: “Sun Valley (led by Vikram Sodhi) paid COP $428.624 billion for the Public Tender Offer on March 25, increasing its stake in Mineros S.A. from 30.85% to 56.85%.”
Toronto – Sun Valley Investments AG announced today that its previously disclosed enhanced Public Tender Offer (PTO) to acquire common shares of Mineros S.A. (TSX: MSA) (CB: Mineros) has been successfully completed.
The company conducted a Public Tender Offer through the Colombian Stock Exchange at a price of COP 5,500 per common share, equivalent to approximately CAD $1.91 as of March 25, 2025, payable in cash.
Sun Valley acquired a total of 77,931,725 Common Shares (the “PTO Shares”) under the PTO for a total amount of COP $428,624,487,500, equivalent to approximately CAD $148,817,008 as of the Closing Date.
Immediately prior to the PTO, Sun Valley beneficially owned and exercised control over 92,477,823 Common Shares, representing 30.85% of the issued and outstanding Common Shares. Following the completion of the PTO, Sun Valley beneficially owns and exercises control over 170,409,548 Common Shares representing approximately 56.85% of the issued and outstanding Common Shares as of the Closing Date.
“Sun Valley acquired the PTO Shares and will retain its Common Shares for investment purposes. It will continuously evaluate its investment in Mineros. It may increase or decrease its stake 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 PTO.
The company stated that 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.
Sun Valley is a corporation existing under the laws of Switzerland. The head office address of Sun Valley is Bahnhofplatz 6300, Zug, Switzerland.
Dentons Cárdenas & Cárdenas 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 branches 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 company stated.
The firm finances the entire precious metals supply chain: mineral exploration, mine construction, production, processing and refining.
Read the original article in Halcones y palomas published on March 26, 2025: Click here.