Sun Valley Investments AG entered into a share purchase agreement to acquire a 22.5% stake in Mineros S.A. from Mercantil Colpatria S.A., Vince Business Corp., Vince Business Colombia S A/S and Banderato Colombia S A/S for CAD 56.4 million.

Sun Valley Investments AG entered into a share purchase agreement to acquire a 22.5% stake in Mineros S.A. (BVC:MINEROS) from Mercantil Colpatria S.A., Vince Business Corp., Vince Business Colombia S A/S and Banderato Colombia S A/S for CAD 56.4 million on February 29, 2024. In connection with the transaction, Sun Valley also entered a shareholders agreement with Banderato Colombia S.A.S. and Acciones y Valores Milenio S.A., companies that will govern 23,662,827 common shares of Mineros post transaction. A condition of the completion of the transaction is that nominees put forth by Sun Valley are elected to the Mineros board of directors.

Colpatria Group is required to submit Sun Valley nominees to be elected as new directors and vote in favour of the nominees at the next annual meeting of general shareholders assembly on March 26, 2024. As per the Shareholders Agreement, Banderato Colombia and Acciones y Valores Milenio will be required to vote in favour of Sun Valley nominees and Sun Valley to acquire additional Mineros common shares from Banderato Colombia and Acciones y Valores Milenio. The transaction is subject to certain terms and conditions and is expected to close in the first half of 2024.

Cárdenas & Cárdenas Abogados Ltda. and Dentons Canada LLP acted as legal advisors to Sun Valley.