DLA Piper represented Pantoro Limited on acquisition of Tulla Resources and A$75 million capital raising
DLA Piper represented Pantoro Limited on acquisition of Tulla Resources and A$75 million capital raising
DLA Piper is providing legal counsel to Pantoro Limited in its acquisition of Tulla Resources plc and a capital raising of A$75 million. The acquisition will lead to the consolidation and full ownership of the Norseman Gold Project, in which both Pantoro and Tulla hold a 50 per cent stake. Pantoro is a gold producer based in Australia, while Tulla is a diversified resources company.
As part of the merger, the consolidation and refinancing of current debt facilities, the demerger of specific industrial mineral assets, and the issuance of Australian-listed scrip consideration are all included in the UK scheme of arrangement.
In support of the merger, Pantoro has launched a two-tranche placement to raise A$75 million.
"We were pleased to advise Pantoro on this important acquisition, which establishes a new mid-tier ASX-listed gold company," said Perth-based James Nicholls, Corporate Partner, DLA Piper.
"The transaction creates significant potential for brownfield and greenfield exploration while securing 100 per cent ownership of the Norseman battery and base metals mineral rights," James added.
"In an era when battery and base metals are hotly contested, the acquisition effectively secures those rights for shareholders," James added.
DLA Piper's team was led by James Nicholls (partner), Kirsty Hall (senior associate), and Emily Donley (solicitor); with assistance from Alex Jones (partner) and Matthew Roberts (senior associate) in respect to mining law and joint venture matters; Owen Alcorn (partner) and Basil Joseph (solicitor) in respect to banking and finance; and Robert Newman (partner) and Karin Kirchsner (legal director) in respect to UK legal and regulatory matters.
"The acquisition is testament to the cross-border capabilities and multi-practice area expertise of DLA Piper. We were delighted to advise Pantoro on this important mandate," James added.
