A McGuireWoods London corporate team played a significant role in helping client Endomines AB, a mining and exploration company based in Sweden, complete the recent US$31.25 million purchase of U.S.-based TVL Gold and five gold mines it held in Idaho.
In addition to the acquisition, McGuireWoods assisted in the approximately €20 million equity rights issue Endomines undertook to finance part of the transaction.
Under the deal, one third of the total purchase is paid in cash and the remainder is paid in shares through a convertible loan.
Jura Junnila and Karl Hemingway, both of McGuireWoods London, provided English law assistance and coordinated the efforts of lawyers in Boise, Idaho; Helsinki, Finland; and Stockholm, Sweden.
U.S. lawyers assisting the London team included Jane Whitt Sellers of McGuireWoods’ Charlotte, North Carolina, office on public share issue questions; Hamid Namazie and Joseph Bini of the Los Angeles office on California law matters; and Charlotte’s David Whelpley on corporate issues.
“Our firm was able to easily call in experts on different issues and jurisdictions to provide the client a seamless one-stop-shop experience that included managing all of the lawyers working on the acquisition,” Junnila said. “We look forward to a long and rewarding relationship with Endomines.”
Endomines’ primary mining and exploration focus is on gold. It operates a gold mine in Pampalo, Finland, and does exploration more broadly in eastern Finland along the Karelian Gold line. The company’s growth plans include increasing its exploration activities and acquiring deposits in stable countries that can be brought into production quickly with limited investments.
Endomines shares are traded on Nasdaq Stockholm and Nasdaq Helsinki.