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K&L Gates Advises AEX Gold Inc. on AIM Admission and Fundraising

3 August 2020

London - Global law firm K&L Gates LLP has advised AEX Gold Inc., a Toronto Stock Exchange Venture Exchange (TSXV)-listed independent gold mining company with a portfolio of gold licenses in Greenland, on its dual listing on the AIM Market of the London Stock Exchange and a related fundraising of £42.5 million through a placing and subscription of common shares with new and existing investors.
The net proceeds of the fundraising will be used to commence development at the company’s previously producing Nalunaq gold mine in Southern Greenland, as well as funding targeted exploration activities across its wider license portfolio. The company has established the largest land package of gold assets in Greenland, with a current portfolio of licenses covering 3,356 square kilometers in the two known gold belts in Southern Greenland, the Nanortalik and Tartoq gold belts.
Eldur Ólafsson, AEX Gold Inc.’s Founder and CEO, commented: “We are delighted with the result of this transaction, which will enable the company to unlock value for its shareholders and stakeholders. Our ambition is to become a full-cycle gold mining business of scale in Greenland, with Nalunaq the first project in what we believe could be many from our existing portfolio of gold assets. James, Paul, and the rest of the international K&L Gates team have been responsive, commercial, and committed to helping us achieve the fundraising and admission to AIM. Their cross border sector experience has been extremely valuable as we worked together to complete the transaction.”
The K&L Gates team that advised AEX was led by London partners James Green and Paul Tetlow and included Robert Boughey, Victoria Cormack, Heather McLoughlin, Jamie Kershaw, Ravena Guron, and Madeleine Williams, with assistance from Boston partner Mark Johnson and Boston associate Bella Zaslavsky.

K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.

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