Sierra Metals Receives Non-binding Letter of Intent From Compania Minera Kolpa
Sierra Metals Inc. (TSX: SMT) (BVL:SMT) (NYSE AMERICAN: SMTS) (Sierra Metals or the Company) confirms that it received an unsolicited, non-binding letter of intent (the LOI) following the close of business on October 27, 2022 from Compaia Minera Kolpa S.A. (Kolpa), among others.
- Sierra Metals Inc. (TSX: SMT) (BVL:SMT) (NYSE AMERICAN: SMTS) (Sierra Metals or the Company) confirms that it received an unsolicited, non-binding letter of intent (the LOI) following the close of business on October 27, 2022 from Compaia Minera Kolpa S.A. (Kolpa), among others.
- The LOI outlines indicative terms for a proposed: (a) business combination of Kolpa and Sierra Metals; and (b) concurrent financing by an investment firm (collectively, the Proposal).
- The LOI was submitted by Kolpa with its shareholders Arias Resource Capital Fund II L.P. and Arias Resource Capital Fund II (Mexico) L.P., among others.
- As previously announced, a Special Committee of the independent members of Sierra Metals Board of Directors (the Special Committee) was formed with a mandate that includes exploring, reviewing and considering financing, restructuring and strategic options in the best interests of Sierra Metals.