King & Wood Mallesons [KWM] is pleased to have advised Hastings Technology Metals Limited [ASX:HAS] [Hastings] on series of recent transactions, positioning it for the development of the Yangibana Rare Earths Project and providing a platform for accessing the full mine-to-magnet value chain. The transactions comprise:
- the proposed acquisition of a ~20% stake in TSX-listed Neo Performance Materials for C$135m
- the proposed issue of exchangeable notes to Wyloo Metals to raise A$150m in convertible debt
- a 2 tranche A$110m equity placement and A$10m Share Purchase Plan.
The KWM deal team was led by Partner Heath Lewis supported by Solicitor Daniel Cannon, Senior Associate Jonathan Sui (in respect of the exchangeable notes) and Partner Amanda Isouard (in respect of the equity raising).
Commenting on the deal Partner Heath Lewis said:
“These three transactions were delivered on a compressed timetable and facilitate the strategic evolution of Hastings towards a significant role in the full mine to magnet value chain. It was a fantastic transaction to work on with our client, and we look forward to further exciting developments on Hastings journey.”
Cassels Brock & Blackwell LLP acted as legal advisers in respect of the Canadian aspects of the proposed acquisition of Neo.
