Sun Valley Investments AG Announces Application to Launch Public Offer for Shares of Mineros S.A.

TORONTO–(BUSINESS WIRE)–Sun Valley Investments AG (“Sun Valley”) announces that the Colombian Superintendent of Finance (“SFC”) published notice provided to it by BTG Pactual S.A., the brokerage firm acting on behalf of Sun Valley, on Friday, October 18 (the “SFC Announcement”) that Sun Valley has applied to commence a public offer to purchase common shares (“Common Shares”) of Mineros S.A. (“Mineros”, 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. The OPA is subject to approval by the SFC and, in accordance with Colombian law, the Offer cannot be made or accepted by Mineros shareholders until such approval has been granted.

If the OPA is approved by the SFC, the offer price per Common Share will be equal to CAD $0.975, payable in cash and Sun Valley will offer to acquire a minimum of 8.50% and a maximum of 10.63% of the issued and outstanding Common Shares.

As also confirmed in the SFC Announcement, Sun Valley has entered into a pre-agreement with Banderato Colombia S.A.S. and Acciones y Valores Nuevo Milenio S.A. (together, the “MC Companies”), pursuant to which the MC Companies have agreed to participate in the OPA.

A more detailed description of the OPA, including where and how Mineros shareholders can obtain a copy of documents relating to the OPA and instructions outlining how Mineros shareholders who hold their Common Shares in Canada can participate in the OPA, will be provided if the OPA is approved by the SFC.

Dentons Cardenas & Cardenas Abogados S.A.S (Colombia) and Dentons Canada LLP have acted as legal advisors to Sun Valley in connection with the Offer.