Firm: Clayton Utz (Euroz Securities Limited and Sprott Capital Partners)
Deal: Clayton Utz is advising the joint lead managers, underwrites and bookrunners for West African Resources Limited’s placement forming part of a debt and equity funding package.
Value: $43.2 million
Area: Corporate, resources
Key players: Clayton Utz’s corporate partner Mark Paganin is leading the team with support from special counsel Stephen Neale and lawyers Benjamin Depiazzi and Matt Johns.
Deal significance: West African Resources Limited is a gold-copper exploration company headquartered in Australia.
Euroz Securities Limited is joined by Sprott Capital Partners, a division of Sprott Private Wealth LP, in acting as joint lead managers, underwriters and bookrunners for West African Resources Limited’s $43.2 million placement.
This forms part of West African Resources Limited’s $326 million debt and equity funding package that was recently announced to the ASX.
The placement will be undertaken as a single tranche.
Approximately 173 million shares (at $0.25) per share will be issued to “eligible sophisticated, professional and other institutional investors”, according to a statement from Clayton Utz.
On the fundraising’s completion, West African Resources will be fully funded through to gold production at the company’s Sanbrado Gold project in Burkina Faso, West Africa.