News

HopgoodGanim advises Dutchess Capital in long-term funding deal

9 May 2011

HopgoodGanim has advised US-based investment manager Dutchess Capital on a US$16.3 million equity line facility with Motopia Limited, a leading Australian mobile marketing and branded mobile content creation provider.

The equity lines provides Motopia with the opportunity to draw down up to US$320,000 (or higher if agreed by Dutchess) at a time as and when required (subject to any applicable Listing Rule requirements).

The equity facility provides a solid base of funding to Motopia over the next three years.

HopgoodGanim Partner Brian Moller, who led the team advising on the transaction, said, "We are delighted we have been able to assist as legal advisor to Dutchess Capital to secure this investment relationship with Motopia."

At no time will Dutchess Capital hold more than 19.99 percent of Motopia.

Contact:
Esther Cohen, Senior Communications Advisor
Tel: 07 3024 0192