Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or
the “Company”) has announced today that it has entered into an
agreement with a syndicate of underwriters, led by BMO Capital
Markets (collectively, the “Underwriters”), under which the
Underwriters have agreed to purchase, on a bought deal basis,
8,510,000 common shares (the “Common Shares”), at a price of
US$12.35 per Common Share for gross proceeds of approximately
US$105 million (the “Offering”). The Company has granted the
Underwriters an option, exercisable at the offering price for a
period of 30 days following the closing of the Offering, to
purchase up to an additional 15% of the Offering to cover
over-allotments, if any, and for market stabilization purposes. The
Offering is expected to close on or about November 14, 2023 and is
subject to the Company receiving all necessary regulatory
approvals, including the approval of the Toronto Stock Exchange and
New York Stock Exchange.
The net proceeds from the Offering will be used
to advance growth initiatives at the Company’s Tucumã Project and
Caraíba Operations, advance regional exploration programs, as well
as for general corporate and working capital purposes.
The Common Shares are being offered for sale
pursuant to the Offering in all of the provinces and territories of
Canada, other than Quebec, by way of a Canadian prospectus
supplement (the “Prospectus Supplement”) to the Company’s Canadian
short form base shelf prospectus dated August 18, 2023 (the “Base
Shelf Prospectus”). The Common Shares are being offered for sale in
the public offering in the United States pursuant to an effective
registration statement on Form F-10 (the “Registration Statement”)
filed under the Canada/U.S. multi-jurisdictional disclosure system.
Before investing, prospective purchasers in Canada should read the
Prospectus Supplement, the Base Shelf Prospectus, and the documents
incorporated by reference therein, and prospective purchasers in
the United States should read the Registration Statement and the
documents incorporated by reference therein for more complete
information about the Company and the Offering. Common Shares may
also be offered on a private placement basis in other international
jurisdictions in reliance on applicable private placement
exemptions.
Copies of the Prospectus Supplement, the Base
Shelf Prospectus, and the Registration Statement, when available,
may be obtained upon request in Canada by contacting BMO Nesbitt
Burns Inc., Brampton Distribution Centre C/O The Data Group of
Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by
telephone at 905-791-3151 Ext 4312 or by email at
torbramwarehouse@datagroup.ca, and in the United States by
contacting BMO Capital Markets Corp., Attn: Equity Syndicate
Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or
by telephone at (800) 414-3627 or by email at
bmoprospectus@bmo.com. Copies of the applicable offering documents,
when available, can be obtained free of charge under the Company’s
profile on SEDAR+ at www.sedarplus.ca/ landingpage/ and EDGAR at
www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
ABOUT ERO
COPPER CORP
Ero is a high-margin, high-growth, low
carbon-intensity copper producer with operations in Brazil and
corporate headquarters in Vancouver, B.C. The Company's primary
asset is a 99.6% interest in the Brazilian copper mining company,
Mineração Caraíba S.A. ("MCSA"), 100% owner of the Company's
Caraíba Operations (formerly known as the MCSA Mining Complex),
which are located in the Curaçá Valley, Bahia State, Brazil and
include the Pilar and Vermelhos underground mines and the Surubim
open pit mine, and the Tucumã Project (formerly known as Boa
Esperança), an IOCG-type copper project located in Pará, Brazil.
The Company also owns 97.6% of NX Gold S.A. ("NX Gold") which owns
the Xavantina Operations (formerly known as the NX Gold Mine),
comprised of an operating gold and silver mine located in Mato
Grosso, Brazil. Additional information on the Company and its
operations, including technical reports on the Caraíba Operations,
Xavantina Operations and Tucumã Project, can be found on SEDAR+
(www.sedarplus.ca/ landingpage/), and on EDGAR (www.sec.gov). The
Company’s shares are publicly traded on the Toronto Stock Exchange
and the New York Stock Exchange under the symbol “ERO”.
FOR MORE
INFORMATION, PLEASE
CONTACT
Courtney Lynn, SVP, Corporate Development, Investor Relations
& Sustainability (604) 335-7504info@erocopper.com
CAUTION REGARDING FORWARD LOOKING INFORMATION
AND STATEMENTS
This press release contains “forward-looking
statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and “forward-looking
information” within the meaning of applicable Canadian securities
legislation (collectively, “forward-looking statements”).
Forward-looking statements include statements that use
forward-looking terminology such as “may”, “could”, “would”,
“will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”,
“estimate”, “forecast”, “schedule”, “anticipate”, “believe”,
“continue”, “potential”, “view” or the negative or grammatical
variation thereof or other variations thereof or comparable
terminology. Forward-looking statements may include, but are not
limited to, statements with respect to the general terms of the
Offering, the closing date of the Offering, regulatory approvals in
respect of the Offering, and the use of proceeds from the
Offering.
Forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors
that could cause actual results, actions, events, conditions,
performance or achievements to materially differ from those
expressed or implied by the forward-looking statements, including,
without limitation, risks discussed in this press release and in
the Base Shelf Prospectus and the documents incorporated by
reference therein. The risks discussed in this press release and in
the Base Shelf Prospectus and the documents incorporated by
reference therein are not exhaustive of the factors that may affect
any of the Company’s forward-looking statements. Although the
Company has attempted to identify important factors that could
cause actual results, actions, events, conditions, performance or
achievements to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results, actions, events, conditions, performance or achievements
to differ from those anticipated, estimated or intended.
Forward-looking statements are not a guarantee
of future performance. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Forward-looking statements involve
statements about the future and are inherently uncertain, and the
Company’s actual results, achievements or other future events or
conditions may differ materially from those reflected in the
forward-looking statements due to a variety of risks, uncertainties
and other factors, including, without limitation, those referred to
herein and in the Base Shelf Prospectus and the documents
incorporated by reference therein.
The Company’s forward-looking statements are
based on the assumptions, beliefs, expectations and opinions of
management on the date the statements are made, many of which may
be difficult to predict and beyond the Company’s control. In
connection with the forward-looking statements contained in this
press release and in the Base Shelf Prospectus and the documents
incorporated by reference therein, the Company has made certain
assumptions about, among other things: continued effectiveness of
the measures taken by the Company to mitigate the possible impact
of COVID-19 on its workforce and operations; favourable equity and
debt capital markets; the ability to raise any necessary additional
capital on reasonable terms to advance the production, development
and exploration of the Company’s properties and assets; future
prices of copper, gold and other metal prices; the timing and
results of exploration and drilling programs; the accuracy of any
mineral reserve and mineral resource estimates; the geology of the
Caraíba Operations, the Xavantina Operations and the Tucumã Project
being as described in the respective technical report for each
property; production costs; the accuracy of budgeted exploration,
development and construction costs and expenditures; the price of
other commodities such as fuel; future currency exchange rates and
interest rates; operating conditions being favourable such that the
Company is able to operate in a safe, efficient and effective
manner; work force continuing to remain healthy in the face of
prevailing epidemics, pandemics or other health risks (including
COVID-19), political and regulatory stability; the receipt of
governmental, regulatory and third party approvals, licenses and
permits on favourable terms; obtaining required renewals for
existing approvals, licenses and permits on favourable terms;
requirements under applicable laws; sustained labour stability;
stability in financial and capital goods markets; availability of
equipment; positive relations with local groups and the Company’s
ability to meet its obligations under its agreements with such
groups; and satisfying the terms and conditions of the Company’s
current loan arrangements. Although the Company believes that the
assumptions inherent in forward-looking statements are reasonable
as of the date of this press release, these assumptions are subject
to significant business, social, economic, political, regulatory,
competitive and other risks and uncertainties, contingencies and
other factors that could cause actual actions, events, conditions,
results, performance or achievements to be materially different
from those projected in the forward-looking statements. The Company
cautions that the foregoing list of assumptions is not exhaustive.
Other events or circumstances could cause actual results to differ
materially from those estimated or projected and expressed in, or
implied by, the forward-looking statements contained in this press
release. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Forward-looking statements contained herein are
made as of the date of this press release and the Company disclaims
any obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or results or
otherwise, except as and to the extent required by applicable
securities laws.
Ero Copper (TSX:ERO)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Ero Copper (TSX:ERO)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024