Leading Brisbane law firm HopgoodGanim Lawyers has advised ASX-listed Norton Gold Fields (NGF) on the private placement of just under 80 million shares to Hong Kong company China Precious Metal Resources Holdings (CPM).
The placement, at 25 cents per share, equals approximately 14.6 percent of the Australian gold producer’s capital. The placement raised just under $20 million before costs.
According to HopgoodGanim partner Michele Muscillo, who led the team advising on the transaction, this placement further strengthens Norton Gold Fields’ balance sheet.
“The shares were issued to China Precious Metal Resources Holdings at a 34 percent premium, which is a great result for Norton Gold Fields. This transaction demonstrates the continuing interest of foreign investors in Australia’s resources industry”.
Contact:
Esther Cohen, Communications Advisor
Tel: 07 3024 0192
