Australia: Clayton Utz advising Euroz, Paradigm and Numis in connection with Heron Resources A$240m funding package
Last Updated: 3 July 2017

Perth, 30 June 2017: Clayton Utz is advising Euroz Securities Limited, Paradigm Capital Inc. and Numis Securities Limited as lead managers in connection with a A$32m institutional placement by ASX-listed Heron Resources Ltd as part of a A$240 million funding package, announced today.

Clayton Utz corporate partner Mark Paganin and senior associate Stephen Neale are leading the firm's team with support from lawyer Benjamin Depiazzi.

The institutional placement is to sophisticated and professional investors, undertaken via an institutional bookbuild. Euroz Securities Limited is the global co-ordinator and bookrunner to the institutional placement.

Heron's funding package also comprises a loan, equity and stream funding package from subsidiaries of Orion Mine Finance Group for a total of A$129 million, an equity subscription agreement with a subsidiary of Greenstone Resources LP and co-investment parties for A$42 million, an equity subscription agreement with Castlelake LP for A$33 million, and a share purchase plan to existing shareholders to raise up to A$5 million.

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