Hamilton Locke was pleased to advise FireFly Metals Ltd (ASX: FFM, TSX: FFM) in its capital raising of approximately A$140 million (before costs), comprising an A$85.0 million institutional placement, a charity flow-through placement of A$16.4 million, a Canadian ‘bought deal’ of $C30 million (approximately A$33 million) and a retail share purchase plan under which the company intends to raise A$5 million.
Proceeds will be used to fund development, technical studies, underground drilling and regional exploration drilling and general administrative and working capital.
FireFly Metals Ltd is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada. The company’s strategy is to rapidly grow the copper-gold mineral resource to demonstrate a globally significant copper-gold asset.
Commenting on the transaction, Partner Shaun Hardcastle said: “We’re proud to have assisted FireFly Metals Ltd on another strongly supported capital raise. The support for the company shows the strong sentiment towards the Company’s projects and excellent management team.”
Canaccord Genuity is acting as Sole Lead Manager and Bookrunner to the Institutional Placement and block trade component of the Charity Flow-Through Placement.
Euroz Hartleys Limited and Argonaut Securities Pty Ltd are acting as Co-Managers to the Institutional Placement. BMO Capital Markets is acting as Sole Underwriter and Bookrunner to the Canadian Offering. RBC Capital Markets and Canaccord Genuity Corp. are acting as Co-Managers to the Canadian Offering.
Osler, Hoskin & Harcourt LLP is acting as Canadian legal advisor to the Company.
The Hamilton Locke team was led by partner Shaun Hardcastle, with support from Senior Associate Jordon Rossetto, Lawyer Chris Simpson and Graduate Tom Lewsey.
