ARIS MINING ANNOUNCES PRICING OF US$450 MILLION SENIOR NOTES OFFERING TO FUND REDEMPTION OF OUTSTANDING 6.875% SENIOR NOTES

Rhea-AI Summary

Aris Mining (TSX: ARIS) (NYSE-A: ARMN) has announced the pricing of US$450 million in 8.000% Senior Notes due 2029. The offering is expected to close around October 31, 2024. The company plans to use the proceeds to redeem its outstanding 6.875% Senior Notes due 2026 and for working capital purposes. The Notes will be offered to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons under Regulation S. In Canada, the Notes will be offered through private placement.

Positive

• Successful pricing of US$450 million Senior Notes offering
• Proceeds will strengthen working capital position

Negative

• Higher interest rate on new notes (8.000%) compared to existing notes (6.875%)
• Increased debt service costs will impact future cash flows

News Market Reaction

+0.43%

1 alert

+0.43% News Effect

On the day this news was published, ARMN gained 0.43%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, BC, Oct. 24, 2024 /PRNewswire/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) today announces the pricing of its offering of US$450 million aggregate principal amount of 8.000% Senior Notes due 2029 (the "Notes"). The offering is expected to close on or about October 31, 2024. 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 2026 (the "2026 Notes") and for working capital and general corporate purposes.

Pursuant to the terms of the indenture governing the 2026 Notes, the Company has issued a conditional notice of redemption to redeem the outstanding 2026 Notes, which redemption will be conditional upon the successful completion of the offering of the Notes.

The Notes will be offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. The Notes will be offered and sold in Canada on a private placement basis pursuant to certain prospectus exemptions.

The offer and sale of the Notes will not be registered under 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 and the Marmato 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 completion and timing of this offering and the intended use of proceeds from this offering, the Company's plans to redeem the 2026 Notes, 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

FAQ

What is the interest rate of Aris Mining's (ARMN) new Senior Notes offering?

Aris Mining's new Senior Notes offering has an interest rate of 8.000% and is due in 2029.

How much is Aris Mining's (ARMN) Senior Notes offering worth?

Aris Mining's Senior Notes offering is worth US$450 million in aggregate principal amount.

When will Aris Mining's (ARMN) new Senior Notes offering close?

The Senior Notes offering is expected to close on or about October 31, 2024.

What will Aris Mining (ARMN) use the proceeds from the Senior Notes for?

Aris Mining will use the proceeds to redeem its outstanding 6.875% Senior Notes due 2026 and for working capital and general corporate purposes.