Clayton Utz advising on $43.2m placement by West African Resources

National firm Clayton Utz is advising Euroz and Sprott on a placement that forms part of a debt and equity funding package that was announced to the ASX earlier this week.

Jerome Doraisamy • 07 December 2018 • Big Law

Clayton Utz advising on $43.2m placement by West African Resources

Firm: Clayton Utz (Euroz Securities Limited, Sprott Capital Partners)

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Deal: Euroz and Sprott will be as joint lead managers, underwriters and bookrunners to West African Resources Limited’s $43.2 million placement, which forms part of the company’s $326 million debt and equity funding package announced to the ASX this Wednesday.

Value: $43.2 million

Area: Corporate

Key players: The Clayton Utz team is being led by partner Mark Paganin, who is being supported by special counsel Stephen Neale and lawyers Benjamin Depiazzi and Matt Johns.

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Deal significance: The placement will be undertaken as a single tranche of approximately 173 million shares at $0.25 per share and the shares will be issued to eligible sophisticated, professional and other institutional investors, the firm noted in a statement.

Upon completion of the fundraising, West African Resources will be fully-funded through to gold production at the company’s Sanbrado Gold Project in Burkina Faso, Clayton Utz said.

Jerome Doraisamy

Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it.

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