Manchester commercial law firm Kuits has advised Kazera Global plc, an AIM-quoted resource and energy sector investment company, on loan facilities to be used as working capital for its Tantalite Valley Mine in Namibia.
In the form of short-term loan facilities, Kazera has reached agreements with an investor and existing shareholders to raise £200,000, while it continues to engage with potential funders for the further development of the mine.
The loan facilities will be distributed in five separate tranches, to be dispersed on consecutive months in 2020, from May through to September.
Kirsti Pinnell, corporate partner for Kuits and specialist AIM advisor, led the team advising Kazera, supported by solicitor Kate Gledhill.
Pinnell said: “Against a backdrop of COVID-19 and uncertain global economic and social conditions, the Kuits corporate team is continuing to drive deals forward in order to meet clients’ strategic aims and is pleased to have helped Kazera with this latest investment.”
Larry Johnson, Chief Executive Officer of Kazera Global, said: “We are delighted by the support shown by both existing shareholders and the consortium of Lenders who have provided this facility. With this support, we can continue to progress the Company's operations in Namibia towards the securing of a transaction with a strategic financing partner, of whom we continue to be in discussions with.”
