Hill Dickinson advises Artemis Resources on its admission to AIM and £5m placing

Hill Dickinson’s London Corporate team has recently advised Artemis Resources Limited on its admission to AIM together with a £5 million fundraise.

Artemis Resources is a Perth-based mining exploration and development company, led by an experienced team that is focused on delivering shareholder value from its 100% owned Pilbara projects – the Greater Carlow Gold-Copper-Cobalt Project in the West Pilbara and the Paterson Central exploration project in the East Pilbara. Artemis Resources also owns the Radio Hill processing plant that is currently on care and maintenance. This plant is strategically located only 35 km from the Greater Carlow Project.

Artemis Resources’ ordinary shares are already listed on the Australian Securities Exchange and admitted to trading on the OTCQB  and the Frankfurt Stock Exchange, and will continue to be listed on the ASX and traded on each of those exchanges following Admission.

Artemis Resources raised £5 million pursuant to a fundraising which included the placing of new ordinary shares by WH Ireland and direct subscriptions with the company. Artemis Resources intends to use the funds to accelerate its exploration efforts in 2022 with the aim of completing additional drilling and delivering a new resource statement for the Greater Carlow Project in H1 2022.

Completion of the fundraising will ensure that the company is well-funded to deliver on its drill programmes in 2022.

Admission of the Artemis Resources’ shares on AIM took place on 7 February 2022 under the trading symbol ‘AIM:ARV’ with a market capitalisation of approximately £52 million (based on the placing price).

The Hill Dickinson team advising Artemis Resources on the transaction was led by legal director Sam Hudson and senior associate Natalia Fryda, with assistance from associate Matt Montgomery, trainee solicitor Amelia Chung and paralegal Mariam El Mir.

Mark Potter, chairman of Artemis Resources, commented: “We are delighted to commence trading on the AIM market of the London Stock Exchange, providing new and existing UK and European investors an efficient way to own and trade our stock. I believe that Artemis offers a highly attractive investment opportunity with our 100%-owned Paterson Central and Greater Carlow gold and copper projects located in the safe, tier one mining jurisdiction of Western Australia. We have expansive exploration programmes planned for 2022 and we look forward to a busy and productive year. It was a pleasure to work with the Hill Dickinson team who provided excellent support to assist us in delivering this transaction.”

Sam Hudson, legal director, commented: “We are delighted to have been able to assist Artemis resources with its admission to AIM and associated fundraise which will enable them to move forward with their exciting exploration programmes in 2022 which have already commenced. We wish them all the best moving forward.”