Goodbye job applications, hello dream career
Seize control of your career and design the future you deserve with LW career

Pantoro advised on acquisition of listed firm, cap raise

Global law firm DLA Piper is advising Australian gold producer Pantoro on its acquisition of Tulla Resources and $75 million capital raising.

user iconJerome Doraisamy 23 February 2023 Big Law
expand image

Firm: DLA Piper (Pantoro Limited)

Deal: Pantoro is consolidating its 50 per cent ownership in the Norseman Gold Project by acquiring the balance of ownership, currently in the possession of Tulla Resources (ASX: TUL).

The merger is being conducted, DLA Piper said in a statement, 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 Australia-listed scrip consideration.


In support of the merger, Pantoro has launched a two-tranche placement to raise $75 million.

Area: Corporate

Value: $75 million

Key players: The DLA Piper team was led by partner James Nicholls, who was supported by partners Alex Jones, Owen Alcorn and Robert Newman, senior associates Kirsty Hall and Matthew Roberts, legal director Karin Kirschner, and solicitors Emily Donley and Basil Joseph.

Deal significance: Speaking about the advice, Mr Nicholls said: “We were pleased to advise Pantoro on this important acquisition, which establishes a new mid-tier ASX-listed gold company.

“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.

“In an era when battery and base metals are hotly contested, the acquisition effectively secures those rights for shareholders.”

“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.”