Hill Dickinson advises East Star Resources on reverse takeover of Discovery Ventures Kazakhstan

Leading commercial law firm Hill Dickinson has recently advised special-purpose acquisition company East Star Resources plc (LSE: Main Market) on its reverse takeover of Discovery Ventures Kazakhstan Ltd and fundraising of £3.1 million by way of an oversubscribed placing and subscription (RTO).

DVK is a mining exploration company formed with the purpose of identifying and developing gold and base metal projects in Kazakhstan. The company is party to a joint venture and operatorship agreements with the Kazakh national mining company Tau-Ken Samruk, with whom it will jointly undertake exploration activities in mineral the Chu-Ili Belt and Rudny Altai Belt mineral districts.
East Star successfully completed its successful RTO on 10 January 2022, following the approval of shareholders at a general meeting convened on 5 January 2022.

Alex Walker, CEO of East Star Resources plc, said:
“Hill Dickinson have been true partners throughout the course of this transaction. Their tireless efforts ensured timely management and execution of all work streams with methodical and meticulous attention to detail combined with sound commercial advice. I look forward to working with them again in future.”

Commenting on the deal, Jack Delaney, legal director, of Hill Dickinson, said: 
“It’s been a pleasure to combine our ECM knowledge together with our deep understanding of the mining sector internationally to bring this deal successfully to fruition. The successful fundraise will help the enlarged company to undertake an exciting exploration project and we wish the East Star team every success in taking their plans forward.”  

East Star was advised on the deal by Hill Dickinson legal director Jack Delaney (Corporate), alongside associates Isabella Spencer-Higgins (Corporate) and Laura Marginson (Employment), trainee solicitor Amelia Chung (Corporate) and paralegal Mariam El Mir (Corporate).