5 April 2023
We are pleased to have advised mining exploration company, Patagonia Lithium Limited (ASX:PL3), on its successful recent ASX listing.
Patagonia is focused on exploration for lithium at its projects in Argentina. The company’s flagship project is its 100% owned Formentera Project, a concession area of approximately 1,752 hectares, located in Northern Argentina in the Province of Jujuy.
Patagonia completed various capital raisings in connection with the IPO totalling $8.6m which comprised of a $3m private share placement with strategic Chinese cornerstone investors, a $1.7m convertible note raising with wholesale investors, and a $3.9m IPO capital raising.
Pamplona Capital acted as the Lead Manager to the capital raisings and IPO.
Moray & Agnew Corporate Partner, Phillip Grundy, and Lawyer Michael Termine, assisted Patagonia through the ASX listing process, including acquisition of 3 lithium exploration projects in Argentina, completion of a Pre-IPO capital raising and successful execution of the regulatory steps for the IPO Prospectus and ASX Listing Application. Senior Associate, Cristian Apolloni, assisted Patagonia through the strategic investment by the Chinese cornerstone investors.
Phillip Grundy, Partner “Congratulations to Phillip Thomas, Paul Boyatzis and Gino D’Anna (Board members) as well as key transaction advisors Pamplona Capital (Lead Manager) and Hall Chadwick (Auditors / Investigating Accountants) on successful completion of this complex ASX listing. We wish Patagonia every success with its upcoming exploration programs in Argentina and look forward to watching the company’s growth in the future.”