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ASX- and AIM-listed miner to boost financial assets
A national firm has advised ASX- and AIM-listed Wolf Minerals Limited on its entry into a series of agreements to support the its financial strength and operations.
Emma Musgrave
Firm: Clayton Utz
Value: Approximately £20 million
Area: Banking and finance
Key players: Perth corporate advisory/M&A partner Matthew Johnson (pictured) led the Clayton Utz team, with assistance from banking and finance partner Rohan Mishra, senior associate Annie Atkins and special counsel Kate Casellas.
Deal significance: To continue its focus on improving the performance of the processing plant and optimising ore feed at Drakelands, Wolf has executed binding agreements with its existing senior lenders for a standstill and restructure of the senior debt currently outstanding, and Resource Capital Fund VI L.P., to provide a £20 million, 12-month secured bridge loan facility, with the potential to be increased to £30 million.
The bridge facility will mandatorily switch to a three-year subordinated convertible loan if certain conditions precedent are satisfied, or a three-year subordinated loan if those conditions are not satisfied.
Wolf will seek shareholder approval at an extraordinary general meeting to enable the issue of ordinary shares in accordance with the convertible loan terms under the bridge facility.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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