Sun Valley Investments AG Announces Improved Offer to Purchase Common Shares of Mineros S.A.
Toronto, Ontario – Sun Valley Investments AG (Sun Valley), a leading international investment firm, is pleased to announce an improved public offer to purchase common shares (Common Shares) of Mineros S.A. (Mineros or the Company), a Colombia-based mining company. The improved offer, which was previously announced on March 1, 2023, is being made through an Oferta Pública de Adquisición (OPA or Offer) and is available to Mineros shareholders via the facilities of the Colombia Securities Exchange.
Improved Terms of the Offer
The improved offer represents a price of 5,500 Colombian pesos (COP) per Common Share, which is equivalent to approximately CAD $1.91 based on the exchange rate as of March 1, 2023. This represents a premium of approximately 33% over the closing price of Mineros’ Common Shares on the Toronto Stock Exchange (TSX) and the Colombian Stock Exchange on March 1, 2023.
Timing and Conditions of the Offer
The deadline for Mineros shareholders to accept the improved offer is 5:00 p.m. (Colombia Time) on April 3, 2023. The offer is subject to customary conditions, including the approval of the Colombian Superintendencia de Sociedades and the Colombian Securities Exchange, and the satisfaction of certain other conditions set out in the OPA and the Investment Agreement.
Impact on Mineros Shareholders
If the improved offer is successful, Mineros shareholders will receive COP 5,500 for each Common Share they own. This represents a significant premium to the market price of Mineros’ Common Shares on the TSX and the Colombian Stock Exchange prior to the announcement of the improved offer.
Impact on the Mining Industry and the World
The successful completion of the improved offer by Sun Valley Investments AG could have a number of implications for the mining industry and the world more broadly. First, it could signal a renewed interest in mining companies operating in Colombia and other emerging markets, as investors seek to capitalize on undervalued assets. Second, it could lead to increased consolidation within the mining industry, as larger players look to acquire smaller companies to expand their operations and strengthen their positions in key markets.
Conclusion
Sun Valley Investments AG’s improved offer to purchase Common Shares of Mineros S.A. represents a significant opportunity for Mineros shareholders to realize a premium to the market price of their shares. The successful completion of the offer could also have wider implications for the mining industry and the world, as investors seek to capitalize on undervalued assets and consolidate their positions in key markets.
- Sun Valley Investments AG announces improved offer to purchase Mineros S.A. Common Shares
- Price per Common Share set at COP 5,500, equivalent to approximately CAD $1.91
- Deadline for acceptance is April 3, 2023
- Offer subject to customary conditions
- Premium to market price of Mineros Common Shares
- Implications for mining industry and the world
