Sun Valley Investments AG ("Sun Valley") today announces the successful termination of the acceptance period of its previously announced 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 CAD $0.975 payable in cash.
According to bulletin No. 209 dated December 4th, 2024, issued by the Colombia Securities Exchange, acceptances to the Offer were received for a total of 17,573,445 Common Shares to be allocated to Sun Valley at a price of CAD $0.975 equivalent to COP$ 3,082.27. The total aggregate consideration to be paid by Sun Valley for the 17,573,445 Common Shares pursuant to the OPA will be CAD $17,134,108.88 equivalent to COP$ 54,166,102,320.15.
Immediately prior to the OPA, Sun Valley beneficially owned and exercised control over 74,904,378 Common Shares, representing 24.99% of the issued and outstanding Common Shares and upon settlement of the Offer -which is expected to occur on December 9th, 2024- Sun Valley will own and exercise control over 92,477,823 Common Shares representing approximately 30.85% of the issued and outstanding Common Shares as of December 5, 2024.
Sun Valley expects the OPA to be completed on Monday, December 9, 2024. When the OPA is completed, it will also mark the successful completion of the previously announced transaction with Mercantil Colpatria and represents a key milestone in Sun Valley's commitment to strategic investments in the metals and mining sector.
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.
About Sun Valley
Sun Valley is a private investment firm focused on the metals and mining industry with portfolio companies and branch offices 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 firm finances the entire precious metals supply chain: mineral exploration, mine construction, production, processing and refining.
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Contacts:
For further information relating to Sun Valley, please contact:
Camilo Alvarez
email: calvarez@sunvalleyinv.com
phone: +1 281 994 7031
