Hamilton Locke advised FireFly Metals Ltd (ASX:FFM, TSX:FFM) on its ~A$190 million equity raising to accelerate development and growth of its Green Bay Copper-Gold Project in Newfoundland, Canada through the completion of early project works, ordering long lead capital items and advancing Feasibility Studies. The Equity Raising comprises a A$150 million ASX institutional placement, and a Canadian “bought deal” private placement to raise approximately C$29.6 million (~A$30 million) by way of the Listed Issuer Financing Exemption. FireFly also intends to offer eligible shareholders in Australia and New Zealand the opportunity to participate in a share purchase plan to raise up to a further A$10 million, at the same A$1.78 offer price as the institutional placement.
Commenting on the transaction, Hamilton Locke Partner Shaun Hardcastle said: “We are delighted to have advised FireFly Metals on another significant equity raising, which underpins the Company’s ability to accelerate development at Green Bay. It has been a pleasure working alongside the FireFly team and Canaccord Genuity on this transaction.”
Canaccord Genuity (Australia) Limited acted as Sole Lead Manager and Bookrunner to the ASX institutional placement, with Euroz Hartleys Limited and Argonaut Securities Pty Ltd acting as Co-Managers. Hamilton Locke acted as Australian legal adviser to FireFly Metals, with Osler, Hoskin & Harcourt LLP acting as Canadian legal adviser.
The Hamilton Locke team was led by Partner Shaun Hardcastle, supported by Partner Jeremy Newman, and Senior Associates Jordon Rossetto and Lachlan Pethick.
