Medellin, Colombia – March 19, 2025 – Mineros S.A. (TSX:MSA, MINEROS:CB) (“Mineros” or the “Company”) announces that the acceptance period of the public offer to purchase between 0.00000033% and 26% of the issued and subscribed ordinary shares of Mineros (“Mineros Shares”) made by Sun Valley Investments AG (“Sun Valley”) by way of a public tender offer (Oferta Publica de Adquisition, or “OPA”) through the facilities of the Colombia Stock Exchange (“BVC”) at an offering price of Colombian Peso $5,500 per share, payable in cash in Colombian pesos or U.S. dollars (the “Amended Sun Valley Offer”) ended on March 18, 2025. The Amended Sun Valley Offer amended the terms of an OPA initially made by Sun Valley on February 14, 2025 (the “Initial Sun Valley Offer”).
According to bulletin No. 053 dated March 19, 2025, issued by the BVC, the number of Mineros Shares tendered to the Amended Sun Valley Offer exceeded the maximum offer. A total of 77,931,725 Mineros Shares that were tendered, representing 26% of the issued and subscribed Mineros Shares, have been allocated for purchase by Sun Valley at a price of COP$5,500. Closing is expected to take place on March 25, 2025.
Immediately prior to the Initial Sun Valley Offer, Sun Valley owned 92,477,823 Mineros Shares representing 30,85% of the Mineros Shares. Upon closing of the Amended Sun Valley Offer as described above, Sun Valley reports that it expects to own and exercise control over 170,409,548 Mineros Shares, representing approximately 56,85% of the issued and subscribed Mineros Shares.
Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua, and a pipeline of development and exploration projects.
The board of directors and management of Mineros have extensive experience in mining, corporate development, finance, and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For almost 50 years Mineros has operated with a focus on safety and sustainability at all its operations.
Mineros’ common shares are listed on the Toronto Stock Exchange under the symbol “MSA”, and on the Colombia Stock Exchange under the symbol “MINEROS”.
For further information, please contact:
Ann Wilkinson
VP of Investor Relations
+1 (647) 496-3011
ann.wilkinson@mineros.com.co
Juan Obando
Investor Relations Manager
(+57) 574 266 5757
juan.obando@mineros.com.co
Bettina Filippone
Renmark Financial Communications Inc.
+1 (514) 939-3989 or +1 (212) 812-7680
bfilippone@renmarkfinancial.com
This news release contains “forward looking information” within the meaning of applicable Canadian securities laws. Forward looking information includes statements that use forward looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward looking information includes, without limitation, closing of the Amended Sun Valley Offer; Sun Valley’s ownership of or control or direction over Mineros Shares; the Company’s planned exploration, development and production activities; and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, performance or achievements.
Forward looking information is based upon estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.
For further information of these and other risk factors, please see the “Risk Factors” section of the Company’s annual information form dated March 25, 2024, available on SEDAR+ at www.sedarplus.com.
The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward looking information contained herein. There can be no assurance that forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information.
Forward looking information contained herein is made as of the date of this news release and the Company disclaims any obligation to update or revise any forward looking information, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws.
