James Channo, Managing Partner of Locke Lord’s London office and Co-Chair of the International Transactions Practice Group, and London Partner Sean Page advised Brisbane-based SolGold plc (LSE and TSX code: SOLG) on the allotment and issue of 100,000,000 new ordinary shares to BHP Billiton Holdings Limited (BHP) at 45p per share to raise £45 million (US $59.2 million). Upon completion of the deal, the shares have been admitted to the London Stock Exchange Main Market, and BHP's interest in SolGold has increased to 203.125 million shares or 11.18 percent of SolGold's undiluted issued capital.
SolGold’s principal assets are in Ecuador and Australia. The company’s primary objective is to discover and define world‐class copper‐gold deposits. Cascabel, SolGold’s 85 percent owned copper‐gold porphyry project, is located in northern Ecuador on the under‐explored northern section of the richly endowed Andean Copper Belt.
Posted on October 29, 2018