HWL Ebsworth advised Bellevue Gold Limited (ASX: BGL) on its fully underwritten institutional Placement to raise $100 million and a non-underwritten Share Purchase Plan to raise up to $20 million (as announced on the ASX on Thursday).
Bellevue Gold, a Western Australian gold explorer and developer, intends to use the funds to accelerate the development of its project in WA, having recently announced a maiden indicated resource of 860,000 ounces at 11.6g/t gold.
Under both the Placement and Share Purchase Plan, new shares will be issued at $1.00. The Placement is underwritten by Macquarie Capital (Australia) Limited and Canaccord Genuity (Australia) Limited.
The HWL Ebsworth team was led by Partner Shaun Hardcastle with Senior Associate Jeremy Newman and Associate Maddison Cramer assisting on the transaction.
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