DLA Piper advises Pantoro Limited on acquisition and capital raising
Pantoro, an Australian gold producer, and Tulla, a diversified resources house, each own 50% of the Norseman Gold Project. Accordingly, the transaction will result in the consolidation and 100 per cent ownership and control of the Norseman Gold Project.
The merger is being conducted via a UK scheme of arrangement and includes the demerger of certain industrial mineral assets, proposed consolidation and refinancing of existing debt facilities and the issue of Australian-listed scrip consideration.
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.
For the 13th consecutive year, DLA Piper was the highest-ranked legal advisor in the world for M&A deal volume, according to Mergermarket's league tables. The firm was involved in 1,131 transactions worldwide in 2022.
Media contact: Nicholas Davy, 0437 036 369