Laytons ETL’s Equity Capital Markets team advised AIM-quoted Tungsten West Plc (the Company), the mining company focused on restarting production at the Hemerdon tungsten and tin mine in Devon U.K., on a fundraising of £4.3 million by way of adding an additional tranche H to its existing 2023 Convertible Loan Notes (CLN).
The Company expect that the proceeds of Tranche H will be used to support the Company as it progresses its development and economic plan to restart the Hemerdon Project, concurrently advancing debt and equity funding and to pursue further value adding and de-risking opportunities.
Alistair Stobie, Chief Financial Officer of the Company commented:
“Thanks again to Joan Yu and her team at Laytons ETL for helping us to get the fundraising completed.”
Joan Yu, Partner and Head of Corporate at Laytons ETL said: “We are pleased to continue advising the Company as it works to restart the Hemerdon Project and look forward to future opportunities to continue working with the Tungsten West team.”
Our Equity Capital Markets team was led by Joan Yu (Partner and Head of Corporate) and supported by Cameron Sutton (Associate) and George Roberts (Trainee Solicitor).
