Mineros S.A. approves a concurrent public offering of USD 35 million in the Stock Exchange of Colombia and Canada.
● Mineros will issue stock for USD 10 million in Colombia and USD 25 million in Canada.
● The Shareholders Assembly approved a maximum of USD 41 million in case of a stock overdemand.
● Resources obtained will be allocated to the Luna Roja Project in Nicaragua, and other company expansion projects.
Medellín, April 16, 2021.
The Shareholders Assembly held today, April 16th, approved the emission of a concurrent public offering of USD 35 million in the Colombia Stock Exchange and the Toronto Stock Exchange (“TSX”), in Canada.
“The approved offering includes the emission of shares for USD$10 million in the Colombian market and USD 25 million in the Canadian market”, indicated Andrés Restrepo, President of Mineros S.A.
However, in case of having a stock overdemand, the Company announced an estimate of “maximum 15% margin”, setting its maximum limit at USD 41 million.
“We propose the authorization of such maximum limit to provide greater flexibility to the management in the execution of this transaction, in case of being necessary”, Andrés Restrepo said during the session.
The Assembly also defined the payment of dividends per share, equivalent to the amount to be received by current shareholders of Mineros S.A. on the payment dates after the concurrent issuance of shares. These dividends represent a quarterly payment of USD 0.0154 per share, payable during the months of July and October, 2021, and in January, 2022.
The Company announced on March 25, 2021, the filing of a preliminary investment prospectus in the Stock Exchange of Colombia and Toronto, in a dual listing.
Once these matters are defined, the only action remaining will be to have the corresponding authorization by the Financial Superintendence of Colombia and the competent Canadian authorities, to make the concurrent public offering of stock.
“We especially thank the support received from Colombian and Canadian authorities, as well as our advisory group, throughout this entire process”, said Andrés Restrepo, President of Mineros.
About Mineros S.A.
During the last 47 years, Mineros S.A., a Colombian company, has worked with commitment to sustainable mineral management processes, contributing to protect the environment and biodiversity, the wellbeing of its stakeholders and the economic and social development of the regions where it is present. Today, these best practices make Mineros S.A. an important responsible mining reference.