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Ero Copper Corp. Completes $110 Million Initial Public Offering and Secondary Offering

Published: 10/19/2017

Team: Chad Accursi, Shaun Khullar, Kyle Simpson, James Lyle, Christopher B. Norton

On October 19, 2017, Ero Copper Corp. completed an initial public offering and secondary offering of common shares for total gross proceeds of approximately $110 million. Ero issued and sold 10,000,000 common shares from treasury and certain selling securityholders sold 13,282,116 common shares, at a price of $4.75 per common share. The syndicate of underwriters for the offering was co-led by BMO Nesbitt Burns Inc. and Scotia Capital Inc., and included Canaccord Genuity Corp., GMP Securities L.P., Numis Securities Limited, PI Financial Corp. and Raymond James Ltd.

Ero has granted the underwriters an over-allotment option, exercisable for a period of 30 days following the closing of the offering, to purchase up to an additional 3,492,317 common shares for additional gross proceeds of approximately $17 million, if exercised in full. 

Ero’s common shares commenced trading on the Toronto Stock Exchange under the symbol "ERO" at the opening of trading on October 19, 2017. 

Cassels Brock represented the underwriters with a team consisting of Chad Accursi, Shaun Khullar, Kyle Simpson, and James Lyle (Securities and Mining) and Christopher Norton (Tax).