Memery Crystal advise AIM listed Kropz on placing, open offer and equity facility
At a glance
Memery Crystal is delighted to announce that it has advised AIM-listed Kropz on its placing and open offer to existing shareholders to raise up to US$ 4.3 million. The placing and open offer are in addition to the Equity Facility announced on the 13th May 2020, which saw major shareholder ARC Fund committing to provide up to US$ 40 million to the Company.
Kropz is an emerging African phosphate explorer and developer. The proceeds of the fundraise and the Equity Facility will be used to bring the Company’s Elandsfontein Phosphate project, located in South Africa, into production, advance the new feasibility study at its Hinda project in the Republic of Congo, and for general working capital purposes.
Nick Davis commented:
“It was a pleasure to once again work with the Kropz team following their admission to AIM in 2018. We look forward to working with Kropz in the future and watching their projects develop.”
Memery Crystal is a specialist international law firm with a strong track record of acting for clients in the natural resources sector. We are pleased to have been recognised by both Chambers and The Legal 500 for our ECM and Natural Resources work.
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