Mineros S.A. becomes first Latin American company to list shares on TSX, closes Canadian IPO and concurrent Colombian public offering

On November 19, 2021, Mineros S.A. (TSX: MSA) (CB: MINEROS) became the first Latin American company to directly list its common shares on the Toronto Stock Exchange ("TSX"), and the first Colombian company with shares listed on both the Colombian Stock Exchange (Bolsa de Valores de Colombia – "BVC") and the TSX. Mineros closed its Canadian initial public offering for gross proceeds of approximately US$20 million. Concurrently with its Canadian IPO and listing on the TSX, Mineros completed a public offering of common shares through the BVC for gross proceeds of US$11.5 million. 

The Canadian IPO was led by Scotiabank and Sprott Capital Partners LP as co-lead underwriters and joint bookrunners. Mineros has granted the underwriters an over-allotment option to purchase additional common shares for additional gross proceeds of US$3 million if the over-allotment option is exercised in full. The concurrent Colombian offering was authorized by the Colombian Superintendency of Finance, and was made through Corredores Davivienda S.A., Comisionista de Bolsa, as underwriter.

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.

Gowling WLG was counsel to Mineros with respect to its offerings and listing on the TSX, with a team that included France Tenaille (mining/corporate); Ian Mitchell, Warren Cass and Ashley Andaya (corporate/securities); and Paul Carenza and Mariam Al-Shikarchy (tax).