BOGOTA, Colombia, Nov. 30, 2021 /CNW/ - Mercantil Colpatria S.A. ("Colpatria") and Vince Business Corp. (the "Acquiror"), a subsidiary of Colpatria, announce that the Acquiror has acquired 5,555,556 common shares (the "Acquired Shares") of Mineros S.A. (the "Issuer") at a price of US$0.90 per Acquired Share for a total purchase price of US$5,000,000.40 (C$1.13535 per Acquired Share and C$6,307,500.50 in total, based on the Bank of Canada average daily exchange rate on November 18, 2021, of US$1.00 = C$1.2615). The Acquired Shares were acquired on November 19, 2021, pursuant to the initial public offering of common shares of the Issuer ("Common Shares") in each of the provinces of Canada, except Quebec (the "Canadian IPO"), and represented approximately 2.0% of the outstanding Common Shares of the Issuer immediately prior to the completion of the Canadian IPO. The Common Shares are listed on the Toronto Stock Exchange under the symbol "MSA", and the Colombian Stock Exchange (Bolsa de Valores de Colombia) under the symbol "MINEROS:CB".
Immediately prior to the completion of the Canadian IPO, Colpatria and companies controlled by Colpatria, including the Acquiror (collectively, the "Colpatria Group") beneficially owned, or had control or direction over, an aggregate of 85,548,187 Common Shares which represented approximately 31.2% of the Common Shares issued and outstanding before giving effect to the Canadian IPO.
Immediately following completion of the Canadian IPO including the acquisition of the Acquired Shares by the Acquiror, the Colpatria Group beneficially owned, or had control or direction over, an aggregate of 91,103,743 Common Shares which represented approximately 30.7% of the Common Shares issued and outstanding.
The foregoing calculations exclude 56,218,850 Common Shares (the "Treasury Shares") that are issued but held by the Issuer, and which are not considered to be outstanding. Shareholder rights associated with the Treasury Shares are suspended while they are held by the Issuer. Including the Treasury Shares, the Acquired Shares represented approximately 1.7% of the total Common Shares immediately prior to the completion of the Canadian IPO; and the Colpatria Group held approximately 25.9% of the Common Shares before the Canadian IPO, and approximately 25.8% of the Common Shares after the Canadian IPO.
The Common Shares were acquired by the Acquiror for investment purposes and the Colpatria Group may in the future acquire or dispose of securities of the Issuer through the market, privately or otherwise, as circumstances or market conditions warrant.
The Issuer's address and head office is located at Carrera 43A, No. 14-109, Piso 6, Edificio NovaTempo, Medellin, Antioquia, Colombia, 050022. The Acquiror's address is Calle 49A, El Cangrejo, Edificio Imperial, Planta Baja, Panamá, República de Panamá. Colpatria's address is Carrera 7 No. 24-89, Piso 33, Edificio Torre Colpatria, Bogotá D.C., Colombia.
A copy of the early warning report filed by the Acquiror in connection with the investment will be available on the Issuer's profile on SEDAR at www.sedar.com, and may be obtained from:
SOURCE Vince Business Corp.
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