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Cobre Limited advised on 2-tranche institutional placement capital raising
Listed mining company Cobre Limited (ASX: CBE) has been advised on a two-tranche placement and “equity-for-drill” subscription agreement.
Jerome Doraisamy
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Firm: HWL Ebsworth (Cobre Limited); Canaccord Genuity (Australia) Limited (lead manager)
Deal: Cobre Limited (ASX: CBE) has been advised on a two-tranche institutional placement capital raising, in conjunction with an “equity-for-drill” subscription agreement with Cobre’s drilling service provider.
Area: Capital markets
Value: Undisclosed
Key players: The HWL Ebsworth team was led by partner Tom Morgan, who was supported by special counsel Stella Lee and solicitor Tom Kaldis.
Deal significance: The funds raised under the placement, the firm said in a statement, will allow Cobre to rapidly progress exploration on the company’s tenement package in the Kalahari Copper Belt in Botswana — “following on from the successful results of the first three diamond holes announced by Cobre recently”.
Speaking about the placement, Cobre executive chairman and managing director Martin Holland said: “It’s always a pleasure to work with Tom Morgan and his team.
“I certainly feel I am in trusted, reliable hands, whilst Tom and his team executes all legal processes in an efficient, effective and commercial manner.”
Mr Morgan added: “Having advised Cobre on its IPO in 2019, and on various corporate transactions since the company listed, it has been an absolute privilege to be able to advise Martin Holland and the rest of the team at Cobre on this exciting capital raising, which will allow the company to accelerate its exploration program in the Kalahari Copper Belt.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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