ERO - Ero Copper Announces US$105 Million Bought Deal Financing | Benzinga
VANCOUVER, British Columbia, Nov. 06, 2023 (GLOBE NEWSWIRE) -- 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 ...