Norton Rose Fulbright advises Sheffield Resources on investment and associated capital raising

Global law firm Norton Rose Fulbright has advised Sheffield Resources Limited (ASX:SFX) (Sheffield) on its execution of an investment agreement with the current shareholders of Rio Grande Mineração S/A (RGM), which holds the South Atlantic Mineral Sands Project in Brazil, and Sheffield’s associated $30 million capital raising comprising a placement to sophisticated and institutional investors and a pro-rata entitlement offer to eligible shareholders.

Sheffield Resources is headquartered in Perth, Australia and is focused on the development of the flagship Thunderbird Mineral Sands Project, one of the world’s largest, undeveloped zircon-rich mineral sands deposits. The investment agreement provides Sheffield with an option to acquire an initial interest of 20 per cent in RGM and then increase that interest upon the achievement of certain key milestones.

The transaction is a significant milestone for Sheffield’s long term strategy of establishing a portfolio of global mineral sands development assets.

The Norton Rose Fulbright team advised on all aspects of the investment agreement and associated capital raising, including transaction structuring and preparation and negotiation of all transaction documents.

Norton Rose Fulbright partner David Jewkes commented:

“We are delighted to have supported Sheffield on this assignment. The South Atlantic Project option gives Sheffield an opportunity to expand its asset portfolio and the successful capital raising will provide funds for that opportunity, as well as the growth of Sheffield’s flagship Thunderbird project.”

Perth-based equity capital markets partner David Jewkes led the team and was supported by senior associate Mauricio Da Rocha and associate Ellen Pen.

Norton Rose Fulbright has advised on a range of other recent deals in Australia including:

• advising Petspiration Group on sale of 55 per cent equity to Woolworths Group.
• advising Zurich and Cover-More Insurance on the sale of employee assistance provider Benestar.
• advising Australian Ethical on its superannuation fund merger with Christian Super.
• advising global consulting, construction, engineering and operating company Egis on its acquisition of sustainable engineering and consulting services business Calibre Professional Services.
• advising Colliers, a leading international diversified professional services and investment management company, on its acquisition of a controlling interest in engineering and urban design group PEAKURBAN.
• advising global high-tech engineering group Sandvik on its agreement to acquire Australian advanced optimisation software and services company, Polymathian Industrial Mathematics.
• advising Sandvik on its proposed acquisition of Deswik Group, a Brisbane-based software business that focuses on mining industry products.
• acting as legal advisors for Gaw Capital Partners on its majority investment in Maoneng Group’s portfolio of BESS and solar development projects across Australia.
• advised the leading green fuel developer InterContinental Energy on bp’s entry into the Asian Renewable Energy Hub (also known as the AREH project).
• advising Federation Asset Management on its investment in the Riverina and Darlington Point Battery Energy Storage Systems (BESS) in New South Wales.
• advising in relation to bp’s entry into the Asian Renewable Energy Hub – the world’s largest renewables and green hydrogen energy hub planned for the Pilbara region of Western Australia.
• advising ENEOS on its Joint Venture with TotalEnergies to develop onsite B2B solar distributed generation across Asia.