Asesoramiento y Transacciones
Mi茅rcoles 24 de Julio de 2013
ZBV Abogados advised Austral Gold in multi jurisdictional deal
Zang, Bergel & Vi帽es Abogados advised Austral Gold Limited (AGD), a mining public company listed on the Australian Stock Exchange, and its wholly-owned subsidiary, and Austral Gold Argentina, on U$S 5 million private placement in Argentex Mining Corporation (ATX), a mining public company listed on the Toronto Stock Exchange.
The transaction included the negotiation and drafting of various documents, including Subscription Agreements, Investment Agreement, Convertible Debenture, Warrant, Security Agreement.
Upon the issuance of the shares at closing on July 3rd and the mandatory conversion of the debenture within the following 9 months, AGD will become the largest shareholder of ATX, with a 19.9% interest, with the International Finance Corporation (IFC) being the second one with approximately 13%.
For every share issued or to be issued upon conversion of the debenture, Austral Gold will receive half a warrant which is exercisable at a fix price within 5 years as from closing.
For so long as AGD owns at least 10% of the outstanding shares of Argentex: (i) it will have the right to appoint one member of ATX麓s Board, one member of its Technical Advisory Board and the Assistant Corporate Secretary, (ii) it will have anti-dilution rights enabling AGD to subscribe shares in future capital raisings up to its pro rata share.
ATX is an exploration company listed on the Canadian Stock Exchange and focused in developing an advanced silver-gold project located in Patagonia, Argentina, currently including a resource of 23.6 million silver-equivalent-ounces with grades of 102.8 g/t Ag and 0.59 g/t Au. In total, ATX owns 100,000 hectares of highly prospective land.
In turn, AGD is a mining and exploration company listed on Australian Stock Exchange and focused in Latin America. Through its Chilean subsidiary, Guanaco Compania Minera, it owns the Guanaco gold mine in Chile, currently in production, which constitutes its main asset.
ZBV acted for AGD, through partner Pablo Vergara del Carril and Associate Pablo Schreiber.
Addisons (Australia), through partner David Selig, acted for AGD under certain matters related to Australian law.
Shibley Righton (Canada), though partner Bill Northcote, acted for AGD under Canadian law aspects.
Clark Wilson (Canada) advised ATX, through partner Ethan Minsky
HOLT (Argentina) acted for ATX, through partner Florencia Heredia and Associate Mat铆as Olcese.
Opini贸n
Aportes irrevocables a cuenta de futuras suscripciones de acciones y nuevas normas de la IGJ: 驴resurgimiento como opci贸n de financiamiento?
Por
Dolores M. Gallo
Barreiro
Barreiro
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Por Lucas J. Battiston
PASBBA
PASBBA
Por Juan Pablo. De Gesus
NORDELTA S.A.
NORDELTA S.A.
Por Melany Di Polvere
Alfaro Abogados
Alfaro Abogados
Por Agostina Salamone
Berton Moreno IP Law
Berton Moreno IP Law
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