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Trowers & Hamlins advises nomad and broker on Bacanora Minerals AIM IPO

Trowers & Hamlins advises nomad and broker on Bacanora Minerals AIM IPO

Trowers & Hamlins is delighted to have advised new clients Cairn Financial Advisers LLP and HD Capital Partners LLP as nominated adviser and broker, respectively, for TSX-V listed Bacanora Minerals ("Bacanora"), which was successfully admitted to the AIM Market of the London Stock Exchange ("AIM") today after completing a CAD$8.7m equity offering.

At the same time as its the admission to AIM, Bacanora also completed its previously announced brokered financing of 14,393,940 common shares at a price of £0.33 per share for aggregate gross proceeds of £4,750,000.  In addition to (and over and above) the foregoing, a vendor placing of 2,000,000 shares was completed at the same offering price.

Bacanora has two significant resources projects in Mexico, being the Magdalena Borate Project and the Sonora Lithium Project.

Trowers & Hamlins' Corporate department advises on private and pre-IPO placements, IPOs (Official List as well as AIM), secondary issues (debt and equity), takeovers (including those structured by way of schemes of arrangement) and other related matters (such as reductions of capital, de-mergers and acquisitions/disposals by listed companies).  The Corporate Finance team also advises listed companies (and their directors) together with nomads/sponsors on compliance with their ongoing legal and regulatory obligations.  The firm's track record for AIM work in particular demonstrates its continuing strength in the natural resources sector and its considerable experience of acting for overseas issuers.

Corporate partners Richard Hildebrand and Nick Harrisingh advised on the IPO with support from Corporate solicitor Yasha Gosrani.