/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
A TOTAL OF $34.3M RAISED IN CANADA AND COLOMBIA
(all amounts expressed in U.S. dollars unless
otherwise stated)
MEDELLIN, Colombia,
Nov. 25, 2021 /CNW/ - Mineros S.A.
(TSX: MSA) (MINEROS: CB) ("Mineros" or the
"Company"), a Latin American gold mining company
headquartered in Medellin,
Colombia, is pleased to announce that further to its initial
public offering (the "Canadian Offering") of 22,222,223
common shares in Canada, which
closed on November 19, 2021, the
Underwriters (as defined below) have partially exercised their
over-allotment option to purchase an additional 3,050,000 common
shares at a price of US$0.90 (being
C$1.1207) per share.
The sale of these shares was completed today for gross proceeds
to the Company of approximately US$2.8
million (being approximately C$3.4
million), bringing the total gross proceeds of the Canadian
Offering and the over-subscribed concurrent public offering in
Colombia (the "Colombian
Offering") to US$34.3
million.
Andrés Restrepo, President and CEO of Mineros, commented "Last
week we announced the news that Mineros began trading on the
Toronto Stock Exchange and that our Colombian Offering was
over-subscribed. The successful completion of both offerings,
including the closing today attests to the strong interest in
Mineros in both the markets we are listed on."
"With an almost 50-year history of gold mining in Colombia, Mineros is a company that is well
known to investors on the Colombia Stock Exchange, but less so to
international investors. We have operations that are unique, not
only in the type of mining, but through our community-based
approach to mining and sustainability. We mine in an
environmentally and socially responsible manner, for the
well-being of all." Restrepo continued.
The Company expects to use the net proceeds from the Canadian
Offering and the Colombian Offering to repay all of the existing
indebtedness incurred in May 2021 in
connection with the consolidation of a 100% interest in its
Luna Roja exploration target in
Nicaragua, and to pursue its
growth strategies.
The Canadian Offering was led by Scotiabank and Sprott Capital
Partners LP as co-lead underwriters and joint bookrunners
(together, the "Underwriters").
Gowling WLG (Canada) LLP in
Canada and DLA Piper Martinez
Beltran in Colombia acted as legal
counsel to Mineros, and Fasken Martineau DuMoulin LLP acted as
legal counsel to the Underwriters.
The common shares have not been, nor will they be, registered
under the United States Securities Act of 1933 (the "U.S.
Securities Act") or any state securities laws. Accordingly, the
common shares may not be offered or sold in the United States unless an exemption from the
registration requirements of the U.S. Securities Act is available
and such offer or sale is made in compliance with any applicable
state securities laws. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities, in any jurisdiction in which
such offer, solicitation or sale would be unlawful. No securities
regulatory authority has either approved or disapproved of the
contents of this news release.
ABOUT MINEROS S.A.
Mineros is a Latin American gold mining company headquartered in
Medellin, Colombia. The Company
has a diversified asset base, with mines in Colombia, Nicaragua and Argentina and a pipeline of development and
exploration projects throughout the region.
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 our 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".
In connection with its listing application, the Company has been
granted an exemption from the individual voting and majority voting
requirements applicable to listed issuers under TSX policies, on
grounds that compliance with such requirements would constitute a
breach of Colombian laws and regulations which require the
directors to be elected on the basis of a slate of nominees
proposed for election pursuant to an electoral quotient system. For
further information, please see the Company's final prospectus
dated November 11, 2021, available on
SEDAR at www.sedar.com.
Forward-Looking Statements
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
information") within the meaning of applicable securities laws.
Forward-looking information may relate to the Company's future
financial outlook and anticipated events or results and may include
information regarding the Company's financial position, business
strategy, growth strategies, addressable markets, budgets,
operations, financial results, taxes, dividend policy, plans and
objectives. Particularly, information regarding the Company's
expectations of future results, performance, achievements,
prospects or opportunities or the markets in which the Company
operates is forward-looking information. In some cases,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "targets", "expects",
"budgets", "scheduled", "estimates", "outlook", "forecasts",
"projects", "prospects", "strategy", "intends", "anticipates",
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", or "will" occur. In addition, any statements that refer to
expectations, intentions, projections or other characterizations of
future events or circumstances contain forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management's expectations,
estimates and projections regarding future events or circumstances.
The forward-looking information contained herein includes, but is
not limited to the use of proceeds.
Forward-looking information is necessarily based on a number of
opinions, estimates and assumptions that, while considered by the
Company to be appropriate and reasonable as of the date of this
press release, are subject to known and unknown risks,
uncertainties, assumptions and other factors that may cause the
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking information. Such risks and uncertainties include,
but are not limited to, market conditions, the price of gold,
currency fluctuations, and the factors discussed under "Risk
Factors" in the final prospectus of the Company dated November 11, 2021 (the "Final
Prospectus"), available on SEDAR at www.sedar.com.
If any of these risks or uncertainties materialize, or if the
opinions, estimates or assumptions underlying forward-looking
information prove incorrect, actual results or future events might
vary materially from those anticipated in forward-looking
information. The opinions, estimates or assumptions referred to
above and the risk factors described in the "Risk Factors" section
of the Final Prospectus should be considered carefully.
Although the Company has attempted to identify important risk
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
risk factors not presently known to the Company or that the Company
presently believes is not material that could also cause actual
results or future events to differ materially from those expressed
in such forward-looking information. There can be no assurance that
such 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, which speaks only as of
the date made. Forward-looking information contained in this press
release represents the Company's expectations as of the date of
this press release (or as of the date they are otherwise stated to
be made), and are subject to change after such date. The Company
disclaims any intention or obligation or undertaking to update or
revise any forward-looking information whether as a result of new
information, future events or otherwise, except as required under
applicable securities laws.
SOURCE Mineros S.A.
