January 3, 2020 - Vancouver,
B.C.; Blanco Minerals Inc. today confirms that the company has been granted regulatory
approval for the company's shares to list as an IPO on the New York Stock
Exchange on Thursday, March 5, 2020.On November 4, 2019 Blanco Minerals Inc.
announced its intentions to list the IPO by the end of January 2020. The
company's board agreed in a meeting on December 18, 2019 to extend the time due
to the USD $39 million cash investment from Tesla Inc. that was announced on
December 20, 2019. The investment from Tesla Inc. has further increased the
overall valuation of Blanco Minerals Inc. and therefore the company will undergo
a new official valuation performed by PricewaterhouseCoopers of which the
results are expected by early February 2020.
It is expected that by the latest
date of Thursday, February 20, 2020 the full prospectus for the IPO will be
distributed to all of the company's shareholders and made available to the
public by the IPO underwriters, Barclays Capital Inc. and Credit Suisse USA. In
conjunction with the prospectus release the underwriters will present the IPO
to institutional investors in the global financial industry by commencing the
IPO roadshow in the week commencing Monday, February 24, 2020.
Peter Ross, CEO at Blanco Minerals has stated, "The date of
the IPO was adjusted to early March in order to allow the $39 million
investment from Tesla to be accounted into the company's valuation. The result
of the valuation will solidify the share price predictions that are being
reported. Our investor relations team has been ordered to relay all of the news
relating to the IPO to our institutional investors and private shareholders. These
are exciting times for us and the upcoming IPO is certain to be very rewarding
for all those involved."
About
the Company:
For further information contact:
investors@blancominerals.com
January 3, 2020 - Vancouver,
B.C.; Blanco Minerals Inc. today confirms that the company has been granted regulatory
approval for the company's shares to list as an IPO on the New York Stock
Exchange on Thursday, March 5, 2020.On November 4, 2019 Blanco Minerals Inc.
announced its intentions to list the IPO by the end of January 2020. The
company's board agreed in a meeting on December 18, 2019 to extend the time due
to the USD $39 million cash investment from Tesla Inc. that was announced on
December 20, 2019. The investment from Tesla Inc. has further increased the
overall valuation of Blanco Minerals Inc. and therefore the company will undergo
a new official valuation performed by PricewaterhouseCoopers of which the
results are expected by early February 2020.
It is expected that by the latest
date of Thursday, February 20, 2020 the full prospectus for the IPO will be
distributed to all of the company's shareholders and made available to the
public by the IPO underwriters, Barclays Capital Inc. and Credit Suisse USA. In
conjunction with the prospectus release the underwriters will present the IPO
to institutional investors in the global financial industry by commencing the
IPO roadshow in the week commencing Monday, February 24, 2020.
The underwriting managers are reporting to Blanco Minerals’
executives that the final pricing of the IPO, that will be announced 3-5 days
before the listing, will be at least USD $6.00 per share as the bottom end of
the range. Due to the extremely strong demand in all areas of lithium related
equities markets, it is agreed among the analysts working on the IPO that
Blanco Minerals' share price will maintain strong price levels in the 6
months following the listing. Beyond the first 6 months, the projected strong
growth of Blanco Minerals Inc. for the next 5 years should allow the share
price to rise consistently in the long term.
Peter Ross, CEO at Blanco Minerals has stated, "The date of
the IPO was adjusted to early March in order to allow the $39 million
investment from Tesla to be accounted into the company's valuation. The result
of the valuation will solidify the share price predictions that are being
reported. Our investor relations team has been ordered to relay all of the news
relating to the IPO to our institutional investors and private shareholders. These
are exciting times for us and the upcoming IPO is certain to be very rewarding
for all those involved."
About
the Company:
Blanco Minerals Inc.
controls the Salar De Arena Rica Lithium Brine Project, located in the Atacama
Region of Northern Chile, in a joint venture partnership with SQM, The company
also maintains a large lithium brine project in Jujuy Province in northwest
Argentina. Furthermore, Blanco Minerals Inc. is developing the largest lithium
project in North America at Zacatecas State, Mexico.
For further information contact:
investors@blancominerals.com
