Firms: Allen & Overy (UBS AG, Australia Branch, sole lead manager and underwriter of the offer), Minter Ellison (Blackthorn Resources, issuer of shares in the offer)
Deal: Blackthorn Resources Limited has announced a fully underwritten two-for-17 accelerated pro-rata entitlement offer and institutional placement
Value: $40 million
Key players: The Minters team included Sydney corporate partners Ron Forster and Daniel Scotti and Sydney corporate lawyers Rahul Mukherjee and Joel Farina. Tony Sparks (pictured) acted on behalf of A&O
Deal significance: Blackthorn Resources is an ASX-listed and Australian-based resources company with a portfolio of African assets including zinc, gold, copper, nickel and silver group metals. The company mainly focuses on developing its Mumbwa and Perkoa projects. The net proceeds of the offer will be used to fund, among other things: resource definition, pre-feasibility and definitive feasibility studies at the Kitumba project, drilling and other exploration work on regional targets at the Mumbwa project, and base metals exploration and other project costs in Burkina Faso.
Minters obtained a waiver from ASX permitting the issuance of shares to an institutional shareholder to be split between the institutional and retail components of the entitlement offer.