07 October 2022
Carey Olsen advises AfriTin Mining Ltd. on $22.8 million AIM fund raising
Carey Olsen's Guernsey corporate practice has advised AfriTin Mining Ltd. (AIM: ATM), an African tech-metals mining and exploration company, on a $22.8 million fundraising. A total of 222,701,660 new shares were placed with new and existing institutional investors.
AfriTin aims to become the tech-metal champion of Africa with an expanding portfolio of tin production and other tech-metal development assets across Namibia. Proceeds from this fundraising will enable the firm to accelerate its business strategy to develop lithium and tantalum pilot plants and further expand its projects at Uis and Brandberg.
The Carey Olsen team was led by partner, Tony Lane and included senior associate Colin Calvert and associate, Daniel Long. In 2018, the team advised on the demerger of Bushveld's tin mining assets from the Bushveld group, which involved Bushveld transferring its tin mining assets to AfriTin, then a newly formed Guernsey-registered company, the admission of AfriTin to AIM and a £4.5 million equity raising by AfriTin.
Tony said: "We are delighted to continue supporting AfriTin as it develops its asset portfolio and moves closer to achieving its business goals. Following this very successful round of fundraising, we look forward to the next chapter for the company."
Carey Olsen's Guernsey practice routinely works with the leading African financial institutions and funding service firms with a lot of experience in the mining, energy and natural resources industry. The firm has advised on many of the energy and natural resource industry's largest and most complex, multi-jurisdictional transactions and has a long history of working with Africa. Carey Olsen advises over 90 London Stock Exchange-listed clients, more than double the number of the next nearest offshore law firm.