Ashurst has advised Base Resources Limited on an underwritten offer of new fully paid ordinary shares to raise approximately A$40 million. The offer consists of a placement to institutional and sophisticated investors, and an accelerated pro rata non-renounceable entitlement offer to existing shareholders.
The funds raised will be applied to the development of Base’s Kwale Mineral Sands Project in Kenya, provide for additional working capital, and pay the costs of the offer.
RFC Ambrian Limited was the lead manager and underwriter, while Euroz Securities Limited was co-manager.
The Ashurst team included partner Roger Davies, senior associate Chadwick Poletti, and lawyers Patrick Nicholas and Jessica Van Dongen.
Related Posts:
- None Found