Latin American gold mining company Mineros S.A. (TSX: MSA) closed on Friday its initial public offering in Canada, raising total gross proceeds of approximately US$20.0 million. The firm also started publicly trading on the Toronto Stock Exchange on Friday.
The offering involved selling 22.2 million common shares at US$0.90 per share. The firm also closed a concurrent offering in Colombia, raising approximately US$11.5 million through the issuance of 12.8 million common shares and 1.7 million shares through the exercise of the over-allotment option.
“Today is a historic milestone, as Mineros becomes the first Colombian company to have its common shares directly listed on both the Toronto Stock Exchange and the Colombian Stock Exchange,” said Mineros CEO Andrés Restrepo. “With this dual listing, we look forward to working with the Canadian investment community to expand our shareholder base into the North American market.
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The company intends to use the net proceeds from both offerings on repaying existing debts related to consolidating a 100% interest in Luna Roja exploration target in Nicaragua, and on pursuing growth strategies.
Information for this briefing was found via the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
