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I recently assisted one of the firm’s longstanding clients – an AIM-listed mining exploration and development company on a US$12m equity investment by a strategic investor.
The investor provided funds in exchange for shares in the company, who will use this non-debt funding to develop a mine in Namibia. However, it is subject to the company achieving certain milestones.
It has not been easy for junior mining companies to obtain funding in recent years, so it has been rewarding to see the company secure the investment required to help it move from the exploration phase to production.
WFW advised on all aspects of the investment including providing advice on the employment aspects of the transaction.
The transaction was not straightforward as we had to balance a complex transaction structure with the implications of AIM Rules and the City Code on Takeovers and Mergers. However, the firm’s specialist natural resources team utilised their particular experience working on AIM-related transactions in order to complete the transaction smoothly and in a short timeframe.