Haynes Boone advised Power Metal Resources PLC (AIM:POW, OTCQB:POWMF), a London-listed mining exploration company focused on global resource projects, on a partial disposal of its stake in Guardian Metal Resources PLC (GMET) to UCAM Ltd.
The transaction is valued at £9.2 million before costs and involved the sale of 29.8 million GMET shares and associated warrants to UCAM Ltd. Power Metal maintains a strategic 19.46 percent stake in GMET, valued at £8.15 million based on GMET's AIM market closing price.
Guardian is a Nevada focused critical and precious metals exploration and development Company which owns the flagship Pilot Mountain Project, which is believed to host the largest undeveloped tungsten deposit on American soil.
Haynes Boone Capital Markets Partner Nick Heap led the deal team along with Associate Ravina Mahajan.
The deal marks the first transaction at Haynes Boone for Heap and Mahajan, who joined the firm’s London office as part of a seven-attorney team from Memery Crystal. The new group expands Haynes Boone’s capital markets capabilities with decades of experience advising on high-profile deals across various markets in the United Kingdom and globally.
Haynes Boone's Capital Markets practice has played a leading role in numerous IPOs, reverse mergers, acquisitions, follow-on offerings and PIPE financings in recent years across sectors including technology, life sciences, energy and financial services. The firm provides comprehensive advice to clients trading on all major U.S. securities exchanges, over-the-counter markets and many foreign markets on a full range of securities transactions and reporting matters.
