Hill Dickinson advised Arc Minerals Limited with a team including Sam Hudson (Picture – Equity Capital Markets).
Arc Minerals Ltd raised gross proceeds of £1.8 million from investors. WH Ireland acted as broker in relation to the placing.
Arc intends to use the net proceeds of the placing for working capital, to fund extra deep drilling at the company’s projects of Cheyeza and Muswema, for a potential increase in its interests in its existing Zambian projects (subject to negotiation), and to fund data acquisition and drilling in Botswana if a proposed new acquisition is completed.
Arc is a mining company with controlling stakes in two private companies focused on prospective copper and cobalt licences in the Zambia Copperbelt.
Sam Hudson (Picture), senior associate, and Paul Jackson, associate, of Hill Dickinson’s Corporate team, advised Arc on the fundraise.
Law Firms: Hill Dickinson;
Clients: Arc Minerals Limited;