Visby Management has submitted two distinct binding offers to acquire Los Cerros Limited's Andes and Quinchia assets in Colombia, presenting shareholders with alternative transaction structures that could potentially supersede the existing agreement with Tiger Gold Corporation.
The first offer, Offer A, is a straightforward $6,000,000 AUD all-cash proposal to be paid within 12 months. Under this option, Los Cerros would retain a 1% net smelter royalty (NSR) on the projects and continue to hold the assets until full payment is completed.
Offer B introduces a more complex transaction model, featuring an initial $2,000,000 AUD payment and contingent future value through a public listing or additional cash consideration. This offer includes provisions for Los Cerros to receive additional cash and share capital worth $8,500,000 AUD, dependent on Visby completing a public listing on a Canadian stock exchange by December 31, 2025.
Visby Management emphasizes its experience operating in challenging mining environments and highlights that full financing has been secured for both transaction options. The company is actively encouraging Los Cerros shareholders to reconsider the existing Tiger Gold agreement and evaluate the Visby proposals.
The strategic importance of these offers lies in providing Los Cerros with potentially more favorable financial terms and greater flexibility. By offering substantially higher upfront payments and multiple transaction pathways, Visby Management seeks to present a more attractive alternative to the current pending acquisition.
Both offers remain valid for 30 days and are contingent upon shareholder and regulatory approvals. The proposals represent a significant challenge to the existing Tiger Gold transaction and could potentially reshape the ownership landscape of these Colombian mining assets.
