Ero Copper files for initial public offering (IPO) on TSX

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By Ted Liu

Ero Copper Corp. has filed a preliminary prospectus for a proposed initial public offering (IPO) and secondary offering of its common shares. The number of common shares to be sold and the price range for the proposed Offering have not yet been determined.

The selling shareholders are Brasil Plural, and Ndovu and Tembo, which collectively control 16,344,829 common shares or 28.8% of the 56,772,684 total outstanding shares.

The offering will be managed by a syndicate of underwriters, including BMO Capital Markets and Scotiabank as lead joint bookrunners for the offering.

Blake, Cassels & Graydon LLP and Cassels Brock & Blackwell LLP are acting as legal counsels to Ero Copper and the underwriters respectively.

Ero Copper has applied to list its share on the Toronto Stock Exchange (TSX).

Vancouver based Ero Copper is a base metals mining company focused on the production and sale of copper from the Vale do Curaçá Property in Brazil, with gold and silver produced and sold as by-products from the Vale do Curaçá Property.

Ero Copper’s principal business activities since incorporation have been the acquisition of an approximately 99.5% direct interest in Mineração Caraíba S.A. (Brazil) (MCSA) and, indirectly through the acquisition of MCSA, the acquisition of the Vale do Curaçá Property and the Boa Esperança Property, as well as the advancement of the operations of the Vale do Curaçá Property. The Vale do Curaçá Property is located in northeastern Bahia State, Brazil, and includes the MCSA Mining Complex. The Boa Esperança Property is located in southeastern Pará State, Brazil, and consists of a single mineral concession.

In March 2017, Ero Copper closed a US $27.6 million private placement led by international investors from The Netherlands, UK and USA who subscribed almost 70% of the offering.

photo credit: Ero Copper