Ashurst advises Elevra on transformational A$441m financing package

Global law firm Ashurst has advised Elevra Lithium Limited (Elevra) on a transformational financing package of up to A$441 million in aggregate.

The financing package comprises a fully underwritten A$250 million institutional placement, a A$146 million strategic Convertible Notes investment by Canada Growth Fund (CGF), and a non-underwritten Share Purchase Plan offered to eligible existing shareholders targeting to raise up to A$20 million.

Elevra is a North American lithium producer listed on both the ASX and NASDAQ. The company has projects in Québec, Canada, USA & Western Australia and holds gold and lithium exploration assets in the world-class Pilgangoora district of Western Australia.

Partner Patricia Paton said:

"We are delighted to have advised Elevra on this transformational financing package. The transaction is a testament to the quality of Elevra's assets and management team, and positions Elevra to deliver on its ambitious expansion plans across both the North American Lithium operation and the Moblan project."

The Ashurst team was led by partners Patricia Paton and Tony Damian, who were assisted by: partner Gaelan Cooney, senior associates Josh Walsh, Chemonica Niranjan and Josh Hanegbi, and associates Elena Martino, Lucas Ryan and Mitchell Maros.