Gilbert + Tobin is advising Bellavista Resources Limited (ASX:BVR) on its proposed acquisition of an 80% interest in the Pickle Crow Gold Project in Ontario, Canada – a transaction that will position Bellavista for growth in one of North America’s most prospective gold regions.
Under the transaction, Bellavista will acquire FireFly Metals Ltd’s 70% interest in the Pickle Crow Project, with an option to increase its interest to 80%, alongside a portfolio of highly prospective nearby exploration assets. The acquisition will be affected through Bellavista’s purchase of the shares in a FireFly subsidiary, subject to the satisfaction or waiver of various conditions precedent, including Bellavista and FireFly shareholder approvals.
The consideration comprises 60 million Bellavista shares issued at $0.75 each and $37.5 million in Bellavista performance rights.
Gilbert + Tobin is also advising Bellavista on its simultaneous capital raising, with the company receiving firm commitments totalling $35 million under an upsized two-tranche placement to support the acquisition, future exploration, corporate costs and general working capital.
The acquisition will be a major step for Bellavista, adding a large, high-grade gold resource and a strong portfolio of nearby exploration opportunities. With an experienced management team, led by Glenn Jardine and Peter Canterbury, and first-class capital markets track record, Bellavista is well placed to advance Pickle Crow and pursue further growth across the surrounding region.
The G+T team advising on the matter is being led by partner Sarah Turner, supported by special counsel Callum Fleming and lawyers Ryan Gava, Ariane Moir and Rachael Griffiths-Szeto.
