North River completes US$12 million equity placing

Fasken Martineau advised Greenstone Resources LP (“Greenstone”) on its US$12 million equity agreement with AIM listed North River Resources plc (“North River”). Greenstone subscribed initially for US$3,125,000 of ordinary shares of nominal value 0.2 pence each in the capital of North River at 0.6 pence per share. In addition, Greenstone will provide up to US$8,875,000 million of equity in three further tranches, subject to conditions, including North River achieving certain objectives. North River is a mineral exploration and development company with resource assets in Namibia. The investment was made in support of North River’s efforts to re-open its flagship asset, the Namib Lead Zinc Project. Fasken Martineau advised Greenstone with a team that included Al Gourley and Vanessa McMinn.