Scotgold Resources’ £3 Million Share Placing

Fox Williams advised Scotgold Resources on the deal.

Scotgold Resources, the gold exploration and production company focused on Scotland, raised £3 million by way of a placing of 2,727,273 depositary interests of no par value in the Company at a price of 110p per New Ordinary Share (the “Placing”). The proceeds of the Placing will be used to accelerate plans to double production at the Cononish Gold & Silver Mine, (“Cononish”) which is on course to become Scotland’s first commercial gold mine by 30 November 2020. Funds will also be used to increase exploration activities, rolling out Scotgold’s systematic programmes across its 2,900km2 licence portfolio in the Grampian Terrane of Scotland. SP Angel Corporate Finance LLP acted as sole broker to the Placing.

The Fox Williams team comprised Head of corporate Richie Clark (Picture) and corporate associate Anjali Aravindhan.

Involved fees earner: Anjali Aravindhan – Fox Williams; Richie Clark – Fox Williams;

Law Firms: Fox Williams;

Clients: Scotgold Resources;