Bryan Cave Leighton Paisner Advises Trident Royalties Plc
Bryan Cave Leighton Paisner (BCLP) advised Trident Royalties Plc (Trident), a mining royalty and streaming company admitted to trading on the Alternative Investment Market (AIM), on the acquisition of a royalty over the Thacker Pass Lithium Project – host to the largest-known lithium resource in the US and operated by Lithium Americas Corp – from an Orion Mine Finance Fund for a total consideration of $28 million. BCLP also advised on a £20.6 million institutional placing and a subscription for new shares undertaken in the UK, Australia and Hong Kong and through PrimaryBid, in part to fund the consideration.
The fundraise was conducted by Tamesis Partners LLP, Shard Capital Partners LLP and Ashanti Capital Pty Ltd as joint bookrunners.
The deal follows BCLP having advised, in June 2020, on Trident’s move from a Standard Listing on the Official List and admission to the Main Market of the London Stock Exchange to trading on AIM, as well as a placing which raised £16 million. BCLP also advised Trident on the acquisition of a portfolio of royalties over the Pukaqaqa Copper Project in Peru in December 2020, also from Orion.
BCLP London Partner and Mining & Minerals Co-Lead Tom Eldridge led on the acquisition, with support from Commercial Disputes Partner Sarah McAtominey and M&A and Corporate Finance Associate Hervé Irankunda. London Partner and Mining & Minerals Co-Lead Alexander Keepin led the team on the fundraise aspect and was supported by M&A and Corporate Finance Counsel Brian Mulkerrins and M&A and Corporate Finance Trainee Polly Sikora.
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