Latest news with #BVL
Business Wire
4 minutes ago
- Business
- Business Wire
Sierra Metals Announces Results of 2025 Annual General and Special Meeting Including Approval of the Second-Step Acquisition of Sierra Metals by Alpayana
TORONTO--(BUSINESS WIRE)-- Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF | BVL: SMT) (' Sierra Metals ' or the ' Company ') is pleased to announce the voting results from its annual general and special meeting (the ' Meeting ') of holders (' Sierra Shareholders ') of common shares of the Company (the ' Common Shares ') held today at 10:00 a.m. (Toronto time). A total of 205,398,131 Common Shares were represented at the Meeting, being 95.03% of the Company's issued and outstanding Common Shares. Election of Directors At the Meeting, Sierra Shareholders voted in favour of setting the number of directors of the Company at three directors, and the election of Alpayana's nominees, being Fernando Arrieta, José Cúneo and Dustin Perry, to the Company's board of directors (the ' Board '). Second-Step Acquisition Transaction At the Meeting, Sierra Shareholders approved the amalgamation (the ' Amalgamation ') of Sierra Metals and a new wholly-owned subsidiary of the Company, which will be incorporated shortly (' Subco '). The Amalgamation constitutes the 'subsequent acquisition transaction' contemplated by the offer (' Offer ') of Alpayana Canada Ltd. (' Alpayana ') to acquire all of the issued and outstanding Common Shares at an offer price of C$1.15 per Common Share that expired at 5:00 p.m. (Toronto time) on May 23, 2025. The amalgamated company resulting from the Amalgamation will continue to be known as 'Sierra Metals Inc.' (' Amalco '). Upon the completion of the transactions contemplated by the Amalgamation Agreement (as defined below), Amalco will be a wholly-owned subsidiary of Alpayana. The Amalgamation was approved by 99.95% of the votes cast by Sierra Shareholders present in person or represented by proxy at the Meeting. On the terms and subject to the conditions of the amalgamation agreement (the ' Amalgamation Agreement ') to be entered between Sierra Metals, Subco and Alpayana providing for the Amalgamation, upon the completion of the Amalgamation, each Sierra Shareholder (other than Alpayana and any Sierra Shareholder who validly exercised and did not withdraw rights of dissent with respect to the Amalgamation) will receive one Series A preferred share of Amalco (each, an ' Amalco Preferred Share ') in exchange for each Common Share. In accordance with the terms of the Amalco Preferred Shares, each Amalco Preferred Share will be redeemed by Amalco or acquired by Alpayana, as applicable, following the completion of the Amalgamation for consideration of C$1.15 in cash (the ' Consideration '), less any applicable withholdings. The Consideration is the same form and same amount of consideration offered to Sierra Shareholders under the Offer. The completion of the Amalgamation is expected to occur on or around August 1, 2025. It is expected that the Common Shares will be delisted from the Toronto Stock Exchange at the close of business on or around August 6, 2025. Alpayana intends to cause Amalco to file an application to cease to be a reporting issuer under applicable Canadian securities laws as soon as reasonably practicable following the completion of the Amalgamation. How to Receive the Consideration and Additional Information In order to receive the Consideration (less any applicable withholdings), each registered Sierra Shareholder must properly complete and duly execute the letter of transmittal enclosed with the notice of annual general and special meeting and information circular of Sierra Metals dated June 23, 2025 (the ' Circular ') mailed to Sierra Shareholders in connection with the Meeting and deliver the letter of transmittal, together with all other documents and instruments referred to in the letter of transmittal or reasonably requested by Shorecrest Group, in its capacity as depositary for the Amalgamation, including the certificate(s) and/or direct registration system statement(s) representing such Sierra Shareholder's Common Shares, to the depositary at the address specified in the letter of transmittal and otherwise in accordance with the instructions contained therein. A copy of the letter of transmittal is also available under Sierra Metals' profile on SEDAR+ at Sierra Shareholders who hold their Common Shares through an investment advisor, broker, bank, trust company, custodian, nominee or other intermediary must contact such intermediary for instructions and assistance in exchanging their Common Shares and receiving the Consideration. Additional information concerning the Amalgamation and the Amalgamation Agreement is set forth in the Circular filed in connection with the Meeting under Sierra Metals' profile on SEDAR+ at Auditor Transition In connection with the Offer and the Amalgamation, PricewaterhouseCoopers LLP (' PwC ') resigned as the auditor of Sierra Metals. Given the resignation of PwC as auditor effective July 23, 2025, at the Meeting, Sierra Shareholders were asked to consider an amended resolution appointing KPMG LLP as auditor of the Company. At the Meeting, Sierra Shareholders voted in favour of such resolution. Sierra Metals is relying on section 4.11(3)(a) of National Instrument 51-102 – Continuous Disclosure Obligations (' NI 51-102 ') for an exemption from the change of auditor requirements within section 4.11 of NI 51-102. In the opinion of Sierra Metals, no 'reportable event' (as such term is defined in section 4.11 of NI 51-102) has occurred. About Sierra Metals Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential. For further information regarding Sierra Metals, please visit Forward-Looking Statements This news release contains 'forward-looking information'. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as 'plans', 'expects', 'intends' or variations of such words, and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information contained in this news release includes, but is not limited to, statements relating to expectations relating to the Amalgamation; the timing and completion of the Amalgamation; the Consideration; and the timing for the delisting of the Common Shares from the Toronto Stock Exchange and Amalco filing an application to cease to be a reporting issuer under applicable Canadian securities laws. Although Sierra Metals believes that the expectations reflected in such forward-looking information are reasonable, such statements involve risks and uncertainties and have been based on information and assumptions that may prove to be inaccurate, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking information and such factors and assumptions are based on information currently available to Sierra Metals, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results, performance or achievements of Sierra Metals or the completion of the Amalgamation to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information in this news release is based on the beliefs and opinions of Sierra Metals at the time the information is given, and there should be no expectation that this forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Sierra Metals expressly disclaims any obligation to do so except as required by applicable law. Disclaimer This news release is for informational purposes only and does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities. The exchange of the Common Shares referred to herein will be made solely pursuant and subject to the terms and conditions set out in the Amalgamation Agreement.
National Post
a day ago
- Business
- National Post
Sierra Metals Subsidiary in Peru, Sociedad Minera Corona Reports Q2 2025 Financial Results
Article content TORONTO — Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF | BVL: SMT) ('Sierra Metals' or 'the Company') announces the filing at the Lima Stock Exchange ('BVL') by its subsidiary, Sociedad Minera Corona S.A. ('Corona') of its unaudited Financial Statements and the Management's Discussion and Analysis ('MD&A') for the second quarter of 2025 ('Q2 2025'). Article content The Company holds an 81.84% interest in Corona. The unaudited Financial Statements and MD&A can be viewed at: Article content SMV — Superintendencia del Mercado de Valores — Información Financiera Article content To search for the Company's financial statements, enter the following parameters in the empty fields: Article content Empresa: Article content Sociedad Minera Corona S.A. Article content Periodo: Article content 2025 and Trimestre II Article content About Sierra Metals Article content Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential. Article content Article content Article content Article content Article content
The Hindu
5 days ago
- Sport
- The Hindu
Rural grounds light up, signify a bright and new era
Indian sports is aspiring to take wings and reach higher levels of excellence in the global arena. The government understands the enormous power of sports, as it aims to project the country's might by hosting the Olympics, an event that unites the whole world. The new Sports Governance Bill, tabled in Parliament on Wednesday, attempts to cut though the complicated web that has been clutching and holding back Indian sports from realising its full potential. The objective is to ease the path of the young athletes and help them reach global glory. The power of sports is often noticed and understood through the influence of sports stars who can engage the world and drive any campaign to great success. Of course, it is a long journey for a young athlete to grow into a star. That hard path with many hurdles is less known to the world, as it is often unlit. It calls for real commitment in the glamour-driven world, where every investment seeks multiple levels of returns, to do the hard work at the grass roots level and drive the youth to higher standards and lead them towards the best stages in sports. A global leader in lighting, Signify has been doing that quietly for some years now, lending a new dimension to the Corporate Social Responsibility (CSR) initiative, by lighting up nearly 200 play grounds so far and sowing seeds for a sports culture in society in a significant way. What stands out is the way the company joined hands with the Brahmaputra Volleyball League (BVL) in Assam, founded and managed by the former national volleyball captain, Abhijit Bhattacharya, driving the vision to its fulfilment. The BVL was launched in 2020 with the idea of building a strong sporting culture in rural Assam, and offer a platform for the children, passionate about playing volleyball. It started with 50 teams and 400 children. Thanks to Signify jumping in and joining the movement, installing lights in 20 grounds at first, and then stepping it up to 120 grounds, after seeing the transformative power of sport under lights in rural environment, the BVL became a roaring success. Abhijit recalls how the league used to take five months to complete about 780 matches. 'The children return from school around 3.30 p.m. They got to play only for an hour or so before darkness,' he said. With its Khel Jyoti scheme, Signify ensured extended hours of play for the children. 'Now we could complete 783 matches in three months. With increased practice time and better preparation, there is a 100% representation of BVL players in the under-17 and under-14 teams of Assam,' said Abhijit. 'We carried out the installation of lights in two phases with a strong focus on impact and long-term sustainability. In the first phase, 20 rural volleyball centres were illuminated with permanent 10-metre high masts and high quality floodlights. These centres were selected on the basis of regular participation of young athletes, presence of coaches, equal participation of girls, a dedicated registered local club to take care of the installed lighting system, and the overall performance in the earlier seasons of BVL,' said Nikhil Gupta, the Marketing and CSR head of Signify. The encouraging results after a careful study of the impact of the lights helped Signify get into the BVL in a big way. 'The impact assessment was very encouraging. Children, especially girls, were now able to practice for three to four extra hours in the evening. Many girls started attending evening coaching sessions, and the community began actively participating by coming out to watch the matches. The lighting infrastructure also served other purposes, such as hosting community celebrations like Bihu. That made us support 100 more volleyball grounds with more than 1200 high quality sports floodlights, bringing a wider reach and greater impact across rural Assam,' said Nikhil. 'The BVL now has 401 teams and we have seen more than 10,000 children play the game in Assam in the last few years,' said Abhijit with pride. Care had to be taken to ensure the sustainability of the lit up project. 'A proper service chain was created and the responsible teams were briefed about the methods and procedures. The local volleyball clubs or committees now take care of the electricity bills and maintenance of the lighting systems, promoting local ownership and long-term use of the infrastructure,' said Nikhil. If volleyball in the remote parts of Assam became an inspiring story, Signify turned its focus on many other games, especially athletics, to light up the track of many promising talent. It was Mundgod, a small town in Karnataka, home of the Siddi tribe, a African-origin community with natural talent and exceptional athletic abilities, that benefited from the lighting up drive. Young athletes from this part faced challenges due to limited access to proper training facilities. Training Bridges of Sports (BoS), an NGO founded by Nitish Chiniwar, chose to take up the task of training about 50 young athletes from the community in various track and field events. The community ground lacked lighting and that hurdle was crossed with the help of Khel Jyoti. Nayana Kokare is a shining example for the Siddi community, with her inspiring journey, as she has already won a relay medal for the country in the Asian under-20 athletics championships. Nitish throws more light on her path. 'Nayana is from a Gowli tribal family. Her father is a farmer and mother is a homemaker. Nayana stood out for her dedication and determination, by becoming the first girl from her village to complete 12th grade, a big milestone for her and the community. She was 14 when we identified her talent and took her into our athlete development program. She has been given full support for training, education and life skills. Over the years, her progress has been remarkable, from the State, Zonal, to national and international levels. She was fourth in 200 metres in Asia, and had won a 4 x 100 metre relay medal in the Asian under-20 championship in Korea,' said Nitish. There is more to the success story, and Nayana is not alone. 'Today, Nayana is part of our Performance Program in the United Kingdom, training under some of the best coaches, physiotherapists, psychologists, and nutritionists professionals who have helped athletes reach the Olympics and other international events. She is pursuing a course in Sports Management, which will lead her to a brighter future,' Nitish said. 'Through our grass-roots mode, we now engage with over 70% of Siddi athletes across many villages, providing them professional coaching, educational pathways and mentorship. The transformation is visible, not just in medals and achievements, but in confidence, discipline and aspiration. One of the best examples is Nimeksha Siddi, who is also now part of our programme in the UK, along with Nayana. She is receiving elite training and pursuing higher education. Both girls are training hard to qualify for international competitions, including the Olympics, hungry to show the world what is possible, when opportunity meets belief,' said Nitish, who states with contentment, 'we help young leaders own their future'. Nitish does acknowledge the role of the lights, in lending a better pathway for the young aspirants. 'One of the biggest improvements in our training infrastructure has been the installation of floodlights through the Khel Jyoti initiative. These high-quality lights have made a real difference in how and when our athletes train. In a place like Mundgod, where it is dark early in the morning or after sunset, having access to lighted tracks means athletes don't have to depend on day light. They can train before school, or late in the evening, helping them stay consistent and focused. The impact of the lights goes beyond the athletes. These lights help host local tournaments, night-time training, and village sports events, encouraging more community participation,' said Nitish. It is not just the rural parts that get support from Khel Jyoti. If the criteria are fulfilled, any scheme can get support in any part of the country. Sudeva, which scouts football talent across the country and trains them in Civil Lines, Delhi, has got the lighting support. Rani Laxmibai Sports Academy, in Siwan, Bihar, a football and handball centre, run by Sanjay Pathak, a government school teacher, has got lighting support. Over 40 girls from the academy have competed at the national and international levels. Likewise, Neelam Sahu who has been coaching girls in kabaddi, and helping them reach national and international levels for more than two decades, got the lighting support for her centre at Sarvodaya Kanya Vidyalaya in Dwarka, Delhi. The Har Sahay Inter College in Kanpur, that trains boys and girls in kho-kho got the support. The players from this centre have competed in the Ultimate Kho-Kho league, and also the World Cup held this year. New initiatives Signify continues to expand the Khel Jyoti programme with new initiatives. There is a focus on improving sports facilities in Punjab's Schools of Eminence. In a partnership with Hoshiarpur District administration, there is a drive to light up 17 playgrounds that have strong sports training program. 'The selection of grounds was based on their use for regular training sessions, higher athlete participation and the availability of professional coaches. These schools have a history of producing national and international athletes, making them ideal candidates for the initiative. It will support young talent in Hoshiarpur to reach full potential,' said Nikhil Gupta. Even as it engages with former cricket captain Rahul Dravid through a television campaign, 'Hum raaton mein sooraj ugaate hain', and lights up the prominent cricket grounds in Dharamshala, Ahmedabad and Navi Mumbai that host international matches, Signify is categorical that no region or game is beyond its support. In fact, the athletics field of the Inspire Institute of Sports (IIS) that is professionally run by JSW Sports, also got lighting support to help elite athletes reach Olympic standards. It has been a satisfying journey for Khel Jyoti so far, even as it ventures further to light up many more sporting arenas, helping many athletes build a shining career. 'Investing in programmes focused on sports fosters the holistic development of society and the sporting ecosystem. We strengthen community bonds by encouraging youth participation and instil qualities of discipline and teamwork. The drive builds a healthier society by promoting physical activity. It creates a robust sporting culture in the country, paving the way for future champions and inspiring the next generation,' said Nikhil. Through Khel Jyoti, Signify indeed captures the essence of the mantra, 'Tamasoma jyotir gamaya'. From darkness, lead me to light!
Toronto Star
6 days ago
- Business
- Toronto Star
Cerro de Pasco Resources Common Shares Begin Trading on the Lima Stock Exchange
MONTRÉAL, July 23, 2025 (GLOBE NEWSWIRE) — Cerro de Pasco Resources Inc. (TSXV: CDPR) (BVL: CDPR) (OTCMKTS: GPPRF) (FRA: N8HP) ('CDPR' or the 'Company') is pleased to announce that its common shares began trading on the Lima Stock Exchange ('BVL') on July 17, 2025. Kallpa Securities S.A.B. in Lima, Peru acted as sponsoring broker for the BVL listing. This milestone forms part of CDPR's strategy to broaden its presence in Latin America and increase visibility among regional investors. The Company's primary listing remains on the TSX Venture Exchange (TSXV).
Hamilton Spectator
6 days ago
- Business
- Hamilton Spectator
Cerro de Pasco Resources Common Shares Begin Trading on the Lima Stock Exchange
MONTRÉAL, July 23, 2025 (GLOBE NEWSWIRE) — Cerro de Pasco Resources Inc . (TSXV: CDPR) (BVL: CDPR) (OTCMKTS: GPPRF) (FRA: N8HP) ('CDPR' or the 'Company') is pleased to announce that its common shares began trading on the Lima Stock Exchange ('BVL') on July 17, 2025. Kallpa Securities S.A.B. in Lima, Peru acted as sponsoring broker for the BVL listing. This milestone forms part of CDPR's strategy to broaden its presence in Latin America and increase visibility among regional investors. The Company's primary listing remains on the TSX Venture Exchange (TSXV). Executive Commentary 'Cerro de Pasco is emblematic for Peruvians — it's known as the 'Capital Minera,' or 'Mining Capital,' as proudly stated at the city's entrance,' said Guy Goulet, CEO of CDPR. 'Listing on the Lima Stock Exchange is a natural step for us. It connects CDPR with a broader base of investors who understand the history, significance, and long-term potential of this region. There is strong institutional interest in Lima, and this listing allows us to build relationships with local funds and stakeholders who care deeply about the future of Cerro de Pasco.' About Cerro de Pasco Resources Cerro de Pasco Resources is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit and underground mine in central Peru. The Company's strategy entails the reprocessing and environmental remediation of historic mining waste, unlocking value while supporting sustainable development. The asset represents one of the world's largest above-ground metal resources. For more information, please visit: Further Information: Guy Goulet, CEO Telephone: +1-579-476-7000 Mobile: +1-514-294-7000 ggoulet@ Donna Yoshimatsu, Senior Strategic Advisor / Investor Relations Mobile: +1 416-722-2456 dyoshi@ Forward-Looking Statements and Disclaimer Certain information contained herein may constitute 'forward-looking information' under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, 'will be', 'expected' or variations of such words and phrases or statements that certain actions, events or results 'will' occur. Forward-looking statements, including the expectations related to the Corporation's objectives, goals or future plans, including the budgeted work program, are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
