VANCOUVER, BC, Oct. 31,
2024 /PRNewswire/ - Aris Mining Corporation
(Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN)
today announces that it has completed its offering of
US$450 million aggregate principal
amount of 8.000% Senior Notes due 2029 (the "Notes"). Aris Mining
intends to use the net proceeds from the offering of the Notes to
fund the redemption of its outstanding 6.875% Senior Notes due in
2026 on November 20, 2024 and for
working capital and general corporate purposes.
Neil Woodyer, CEO of Aris Mining,
commented "We are pleased by the overwhelming investor demand for
our Note offering, which reflects confidence in our growth strategy
as well as favourable conditions across credit markets, emerging
markets and gold. In response, we upsized the offering to
US$450 million and priced the new
Notes at 8.00%, significantly below the indicated market range of
8.25% to 8.50%. This strategic financing repays our existing
US$300 million notes, extends the
maturity of our long-term debt to October
31, 2029, while increasing our cash reserves during our
transformational growth period with ongoing expansions at both
Segovia and Marmato."
The offer and sale of the Notes will not be registered under the
United States Securities Act of 1933, as amended (the "Securities
Act"), and the Notes may not be offered or sold in the United States or to U.S. persons absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
laws. This news release shall not constitute an offer to sell or
the solicitation of an offer to buy the Notes, nor shall there be
any offer or sale of the Notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Aris Mining
Aris Mining is a gold producer in the Americas, currently
operating two mines with expansions underway in Colombia. The Segovia Operations
the Marmato and Upper Mine produced
226,000 ounces of gold in 2023. Aris
Mining is targeting a production rate of approximately 500,000
ounces of gold per year in the second half of 2026, following a
ramp-up period after the Segovia mill expansion scheduled for
completion in Q1 2025 and the Marmato Lower Mine's
first gold pour in late 2025. Aris Mining also operates the 51%
owned Soto Norte joint venture, where studies are underway on a
new, smaller scale development plan, with results expected in early
2025. In Guyana, Aris Mining is
advancing Toroparu, a gold/copper project. Aris Mining intends to
pursue acquisitions and other growth opportunities to unlock value
through scale and diversification.
Aris Mining promotes the formalization of traditional miners
into contract mining partners as this process enables all miners to
operate in a legal, safe and responsible manner that protects them
and the environment.
Forward-Looking Information
This news release contains "forward-looking information" or
"forward-looking statements" within the meaning of Canadian and
U.S. securities legislation. All statements included herein, other
than statements of historical fact, including, without limitation,
statements relating to the intended use of proceeds from this
offering, project development plans and future performance, are
forward-looking. Generally, the forward-looking information and
forward looking statements can be identified by the use of forward
looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate",
"will continue" or "believes", or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved."
Forward looking information and forward looking statements,
while based on management's best estimates and assumptions, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Aris Mining to be materially different from
those expressed or implied by such forward-looking information or
forward looking statements, including but not limited to those
factors discussed in the section entitled "Risk Factors"
in Aris Mining's
Annual Information Form dated March
6, 2024 which is available on SEDAR+ at www.sedarplus.ca and
in the Company's filings with the SEC at www.sec.gov. These factors
should be considered carefully, and readers should not place undue
reliance on the Company's forward-looking statements. The Company
has no intention and undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Aris Mining Corporation