HWL Ebsworth has advised Alliance Resources Limited (“Alliance”) in relation to its recently established strategic alliance with ITOCHU Corporation (“ITOCHU”). Under the terms of the strategic alliance, ITOCHU will have the right to subscribe for an initial 14.9% shareholding in Alliance, or a wholly owned subsidiary of Alliance that hold’s the company’s interest in the Four Mile Uranium Project. ITOCHU has also been granted an option to acquire a further 25.1% interest in the Alliance subsidiary.
The HWL Ebsworth team was jointly led by partners Gail Owen and Thomas Kim.
Alliance is an ASX listed resources company with uranium and copper-gold assets. The Company’s main asset is a 25% interest in the Four Mile Uranium Project based in South Australia.
ITOCHU is a Fortune Global 500 Company based in Japan with net income exceeding A$3.7 billion and a market capitalisation of approximately A$16 billion. ITOCHU Corporation has extensive global interests in the uranium sector and is one of the major uranium traders in the world.
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