08:30:34 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Josemaria Resources Inc
Symbol JOSE
Shares Issued 302,983,409
Close 2021-04-15 C$ 0.71
Market Cap C$ 215,118,220
Recent Sedar Documents

Josemaria obtains approval for Swedish prospectus

2021-04-15 17:54 ET - News Release

Mr. Adam Lundin reports

JOSEMARIA RESOURCES ANNOUNCES APPROVAL AND REGISTRATION OF SWEDISH PROSPECTUS

Josemaria Resources Inc. has obtained the approval of and registration with the Swedish Financial Supervisory Authority (the FSA) of a prospectus regarding the admission to trading of additional shares on Nasdaq Stockholm for an aggregate of 75,383,900 new common shares. The Swedish prospectus is available on the company's website and can be obtained from the company upon request. The FSA's approval and registration of the Swedish prospectus and its subsequent publication on the company's website satisfy one of the closing conditions for a previously announced private placement and concurrent bought deal financing.

The krona-denominated private placement is expected to result in aggregate gross proceeds of 278.3 million kronor, approximately $40.5-million, to the company through the issuance of 58,708,900 common shares at a price of 4.74 kronor (corresponding to approximately 69 cents) per share.

A Lundin-family-related trust has participated in the equity offering with approximately $20.5-million.

As previously announced, the private placement is being completed concurrently with the offering pursuant to which a syndicate of underwriters led by BMO Capital Markets has agreed to buy, on a bought deal basis, up to 16,675,000 common shares, including 2,175,000 common shares issued pursuant to an overallotment option for aggregate gross proceeds of up to approximately $11.5-million.

The closing of the offering and the private placement and the listing on the Toronto Stock Exchange of common shares issuable under the offering and the private placement are expected to occur on or about April 19, 2021.

The net proceeds of the offering and private placement will be used to continue advancing the Josemaria copper-gold project in San Juan, Argentina, for repayment of certain outstanding debentures of the company and for general corporate purposes. In respect of the offering, common shares are offered by way of a short-form prospectus in all of the provinces and territories of Canada, other than Quebec.

Following the closing of the private placement and the offering, and assuming the exercise, in full, of the overallotment option granted to the underwriters pursuant to the offering, the number of outstanding common shares will be 378,367,309. Any common shares issued pursuant to the private placement will be subject to a statutory hold period in Canada for a period of four months and one day. Finders' fees of up to 5 per cent may be payable on sales made pursuant to the private placement, other than with respect to sales made to the Lundin-family-related trust.

This news release is not a prospectus under Regulation (European Union) 2017/1129. The company has not authorized any offer of securities to the public (as defined in the EU prospectus regulation) in any EEA (European economic area) member state, and no such prospectus has been or will be prepared in connection with the public offering or private placement.

The issuance of common shares to the Lundin family trust constitutes a related-party transaction as defined under Multilateral Instrument 61-101 as such entity is an insider of the company. The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to, nor the consideration paid by such persons would exceed 25 per cent of the company's market capitalization.

About Josemaria Resources Inc.

Josemaria is a Canadian natural resource company focused on developing its advanced-stage, 100-per-cent-owned Josemaria project in the San Juan province of Argentina. A recently published feasibility study (see "NI 43-101 Technical Report, Feasibility Study for the Josemaria Copper-Gold Project, San Juan Province, Argentina," dated effective Sept. 28, 2020, and filed on Nov. 5, 2020) demonstrates a simple and conventional open-pit copper-gold project with robust economics and a rapid payback period. Josemaria Resources is a Lundin group company and works in partnership with the Lundin Foundation to execute best practices in responsible mineral development in Argentina, where the Lundins have a 30-year record of value creation. The company is a reporting issuer in all provinces and territories of Canada, and its corporate head office is in Vancouver, B.C. The company's shares are listed on the Toronto Stock Exchange and on the Nasdaq Stockholm under the symbol JOSE, and trade on the OTCQB under the symbol JOSMF.

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