Haynes Boone is delighted to have acted for Guardian Metal Resources PLC, a strategic development and mineral exploration company focused on tungsten in Nevada, on its $21 million (approximately £15.6 million) fundraising by way of direct subscriptions to the company via the issue of new ordinary shares to new investors and existing shareholders.
Coupled with Guardian Metal’s recently announced $6.2 million award from the U.S. Department of Defense to accelerate the development of the company’s flagship Pilot Mountain tungsten project, the fundraising will allow for the expedited advancement of Guardian Metal’s objectives at a crucial time.
The Haynes Boone deal team was led by Partners Nick Davis and Nick Heap, with assistance from Associate David McClellan.
With the company’s Pilot Mountain and Tempiute projects in Nevada, Guardian Metal is poised to contribute to the efforts of the United States to re-establish a stable and dependable domestic mined supply of tungsten. The company’s dedication to responsible mining practices, along with its strategically located projects in mining-friendly Nevada, enhances its potential to play a pivotal role in the U.S. tungsten supply chain.
“We are pleased to have advised Guardian Metal on this successful fundraising, which underscores investor confidence in the company’s strategy and the growing importance of domestic critical mineral supply,” said Davis. “Guardian Metal’s projects are well positioned within the U.S. and we look forward to supporting the company as it advances its development plans.”
Haynes Boone's Capital Markets practice has played a leading role in numerous IPOs, reverse mergers, acquisitions, follow-on offerings and PIPE financings in recent years across sectors including technology, life sciences, energy and financial services. The firm provides comprehensive advice to clients trading on all major U.S. securities exchanges, over-the-counter markets and all major U.K. stock markets and many foreign markets on a full range of securities transactions and reporting matters.
