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Memery Crystal advise long-standing client Shanta Gold on an oversubscribed US$42.1 million fundraising

23/10/2020

At a glance

Memery Crystal is delighted to announce that it has advised the East-African focused gold producer, Shanta Gold, on a significantly oversubscribed capital raising of £32.3 million (approximately US$42.1 million) by way of a placing and a direct subscription to existing shareholders and other institutional investors and an offer to retail investors.

Shanta Gold is a long-standing client of Memery Crystal’s having listed on AIM in 2005.The proceeds of the fundraising will be used for infill drilling, expansion drilling, technical studies and working capital over the next 36 months at the company’s West Kenya Project, and for general corporate purposes.

The Memery Crystal team was led by CEO Nick Davis alongside Director Melanie Talbot, Solicitor Lauren Belmonte and Paralegal Priya Morzeria.

Nick Davis commented:

“We are delighted to have assisted Shanta Gold with another successful fundraising, it is great to see the London equity markets supporting high-quality gold companies, and allowing them to access the further capital that they need to grow.

Shanta Gold are a long-standing client of ours having worked with the company since its admission to AIM in 2005. We have watched them grow over the years from an exploration company into the successful gold-producers they are today.”

Natural Resources law is a cornerstone of our firm and it’s a passion. We are immersed in the sector advising on all areas of law including public and private equity and debt finance, M&A and strategic investments, disposals and disputes. Memery Crystal are one of the pre-eminent providers of legal advice for companies looking to list in London and we have seen first-hand the increase liquidity and share price that a London listing brings to our clients.

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    Melanie Talbot (née Jory)
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