Noteworthy Work
K&L Gates Assists Amaroq Minerals with Oversubscribed Fundraising to Accelerate Growth
Global law firm K&L Gates assisted Amaroq Minerals Ltd., an independent mining company with a substantial land package of gold and strategic mineral assets in Southern Greenland, on the successful completion of its significantly oversubscribed fundraising. Amaroq is listed on the TSX-V in Canada, the AIM Market in London, and the Nasdaq Main Market in Iceland.
The company raised £27.5 million (US$34.8 million) through a placing and subscription of new shares with new and existing institutional investors. The company will use the net proceeds from the fundraising for further resource and exploration drilling; to invest in mining equipment and green energy production; to advance the company’s strategic minerals business; and to provide additional working capital.
The K&L Gates team was led by London partner James Green with assistance from senior associate Robert Boughey, associate Madeleine Williams, and trainee solicitor Matt Fernandes. Charlotte partner Sean Jones and associate Jeff Pititto assisted on US securities aspects of the deal.
Commenting on the deal, Green said: “We have now advised Amaroq on numerous transactions since they were admitted to AIM in 2020. The level of interest from investors in this latest fundraising is a great reflection on the quality of the company. We look forward to continuing to support them as the Nalunaq mine comes into commercial production and they unlock the potential of the rest of their asset portfolio.”
K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.
