ARIS MINING TO LIST COMMON SHARES ON NYSE AMERICAN, DRIVEN BY OUR GROWTH AND PROJECT ADVANCEMENTS
VANCOUVER, BC, Sept. 6, 2023 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (OTCQX: TPRFF) announces that it has received approval to list its common shares on the NYSE American LLC (NYSE American). Since the launch of Aris Gold two years ago, Aris Mining has grown to include two operating mines producing over 230,000 ounces of gold per year and generated US$153 million of Adjusted EBITDA1. The Company's growth continues with the in-progress construction of the Marmato Lower Mine, following receipt of permits in July 2023. Aris Mining is also advancing the Soto Norte gold/copper project, which is positioned to become one of Colombia's largest and most advanced underground mines.
Neil Woodyer, CEO of Aris Mining, commented "Listing Aris Mining on the NYSE American will increase our visibility to investors in the United States and internationally. We are optimizing our operations with a focus on cash flow generation, extending mine life, building new mines, and exploring acquisitions. Aris Mining has a strong balance sheet and we believe we are on track to produce 400,000 ounces of gold in Colombia in 2026, based on steady-state production from our Segovia Operations and the expanded Marmato Mine. As we step forward, our strategy is centered around the belief that successful mining in Colombia hinges on our collaboration with and support of local Artisanal and Small-Scale Miners."
Trading of the Company's common shares on the NYSE American is expected to commence on or about Thursday, September 14, 2023 under the symbol "ARMN", with trading on the OTCQX to cease concurrent with the NYSE American listing. The Company will remain listed on the Toronto Stock Exchange under the symbol "ARIS".
Aris Mining is a gold producer in the Americas with a growth-oriented strategy. In Colombia, Aris Mining operates several high-grade underground mines at its Segovia Operations and the Marmato Mine, which together produced 235,000 ounces of gold in 2022. Aris Mining is currently advancing the Marmato Lower Mine Expansion project, which will provide access to wider porphyry mineralization below the current Upper Mine. Aris Mining plans to pursue acquisitions and other growth opportunities to unlock value creation from scale and diversification.
Aris Mining promotes the formalization of artisanal and small-scale mining as this process enables all miners to operate in a legal, safe and responsible manner that protects them and the environment.
Additional information on Aris Mining can be found at www.aris-mining.com and www.sedarplus.ca.
Adjusted EBITDA is a non-IFRS financial measure included in this news release. This measure does not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. For full details on this measure, refer to the "Non-IFRS Measures" section of the Company's Management's Discussion and Analysis (MD&As) for the periods ended June 30, 2023, December 31, 2022 and June 30, 2022 for a reconciliation of Adjusted EBITDA for the relevant periods. The MD&As are incorporated by reference into this news release and are available on the Company's profile on SEDAR+ at www.sedarplus.ca.
This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the commencement of trading of the Company's common shares on the NYSE American and the ceasing of trading on the OTCQX and the timing thereof, growth plans pertaining to the Marmato Lower Mine and the Soto Norte Project, and expected benefits thereof including anticipated production in 2026, and the Company's plans and strategies are forward-looking. When used herein, forward looking terminology such as "expect", "plan", "anticipate", "estimate", "may", "will", "should", "intend", "believe", and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Many factors could cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the "Risk Factors" section of the Company's most recent AIF and in the Management's Discussion and Analysis for the three and six months ended June 30, 2023, which are available on the Company's profile on SEDAR+ at www.sedarplus.ca. 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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1 Adjusted EBITDA for the 12 month period ended June 30, 2023 is a non-IFRS financial measure. This measure does not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Refer to the Non-IFRS Measures section below for more details. |
SOURCE Aris Mining Corporation
Tyron Breytenbach, Senior Vice President, Capital Markets, +1.416.399.2739, [email protected]; Kettina Cordero, Vice President, Investor Relations, + 1.604.417.2574
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