Hill Dickinson advises Bradda Head Holdings Limited on admission to AIM and £6.2m placing

Hill Dickinson’s London Corporate team has recently advised Bradda Head Holdings Limited on the admission of its entire issued share capital to trading on AIM.

Alongside admission, Hill Dickinson also advised on an oversubscribed placing for new ordinary shares, raising gross proceeds of £6.2 million from new and existing institutional investors.

Bradda Head is a lithium exploration company with unique exposure across all three main recognised lithium deposit types; brine, pegmatite and sedimentary. Bradda Head’s assets are located in Nevada and Arizona, ranked #1 and #2 respectively in investment attractiveness as of the 2020 Fraser Institute annual survey of mining companies. In particular, the Company’s projects are located in close proximity to major US based battery manufacturers and have a competitive advantage to supply lithium to end-users in the US, lowering the carbon footprint of the batteries over imported ones from China or Europe. Bradda Head intends to use the proceeds of its placing to fund a number of phased exploration work programmes for the group’s projects.

Bradda Head’s shares were admitted to trading on 19 July 2021, with the ticker ‘AIM:BHL’ and a market capitalisation on admission of £16.1 million. Further information on Bradda Head can be found on the company’s website.

The Hill Dickinson team was led by partner Michael Corcoran and legal director Sam Hudson, with support from associate Amy Grosvenor and paralegals Sanne Gerdsen, Oliver Hart and Rachael Drabble. The Hill Dickinson team was also assisted by Isle of Man firm Long & Humphrey in respect of the transaction and matters of Isle of Man law. 

Sam Hudson commented: “Bradda Head’s admission to AIM and oversubscribed placing is a significant moment for the company as it moves forward with its exciting exploration programme to unlock the potential of its projects in the US. It has been a pleasure to work with the Bradda Head management team and we look forward to seeing them go from strength to strength and assisting them along the way.”

Charles FitzRoy, chief executive officer of Bradda Head, commented: “We are delighted with the response we have we have received from investors, as well as to be bringing Bradda Head to AIM, particularly at a time when lithium exploration is shaping up to be a key component in the global transition to zero-emissions technologies. The United States is facing a dramatic shortfall in domestic low carbon footprint lithium supply and Bradda is ideally positioned to supply this growing key market. We have a diverse and exciting portfolio of assets in Arizona, and Nevada, with unique exposure to lithium in sedimentary, pegmatite and brine claims.”