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Alliance Minerals advised on ‘strategic’ share placements
King & Wood Mallesons has advised Alliance Minerals on its recently announced equity capital raising.
Emma Musgrave
Firm: King & Wood Mallesons (Alliance Minerals)
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Deal: Alliance Minerals has been advised on its equity capital raising.
Value: $32.5 million
Area: Finance
Key players: The KWM team advising on the deal was Perth-based partner Heath Lewis and senior associate Mark Joss.
Deal significance: According to a statement from KWM, the funding is “as the result of simultaneous strategic share placements with Galaxy Resources Limited (Galaxy) and Jiangxi Special Electric Motor Co., Ltd and will see Galaxy become the listed miner’s largest shareholder”.
The funding will be used to advance Alliance’s Bald Hill Lithium and Tantalum Mine upgrades, as well as exploration opportunities and working capital, the firm noted.
“We are pleased to have worked with Alliance to bring this transaction to fruition and to further assist in progressing the Bald Hill Mine,” said lead partner Heath Lewis.
