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Uranium explorer advised on $8.7m capital raising
National law firm Thomson Geer has advised Canadian uranium explorer 92 Energy Limited on its $8.7 million capital raising.
Jess Feyder
Firm: Thomson Geer (92 Energy Limited)
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Deal: Thomson Geer advises 92 Energy on $8.7 million capital raising using Canada’s flow-through share regime.
Value: $8.7 million
Area: Corporate
Key players: The Thomson Geer team was led by partner Scott Gibson, along with lawyer Sarah Urquhart and law graduate Ariane Moir.
Deal significance: Funds raised from the capital raising will provide 92 Energy with the financial strength to aggressively target its Gemini Project in the Athabasca Basin in Saskatchewan, Canada, where it is targeting high-grade unconformity-related uranium.
ASX-listed company 92 Energy used Canada’s flow-through share regime in the capital raising round. This regime provides tax incentives to eligible Canadian investors and enables shares to be placed at a higher price than would otherwise be possible.
Mr Gibson commented: “We’re pleased to have assisted 92 Energy complete this capital raising in tough market conditions. It sets the company up to confidently continue its exploration activities in Canada.”
Thomson Greer advised 92 Energy on all aspects of the capital raising. They were supported by Canadian law firm Bennett Jones.
