The consolidation of companies and assets through mergers and acquisitions is a core part of our business at Empire.
We work with company boards, the ASX, and shareholders to ensure the successful implementation of these transactions.
Empire will facilitate all steps in the M&A process, including but not limited to:
Empire originated and facilitated KAU’s acquisition of Centennial Mining limited – a Victorian based gold production company. Centennial, which was in administration at the time, comprised of a fully operational gold mine with a 165,000+tpa CIP processing plant and a JORC 2012 resource of 249,000oz grading at 6.1 g/t Au. As a two stage acquisition, Empire facilitated the acquisition of Centennial by way of a interposed SPV and raising $13.5M to extinguish the debt in Centennial through a DOCA, acquiring the shares on a debt free basis. To complete the second stage of the acquisition, KAU exercised an option over the SPV and once receiving shareholder approval and completing a chapters 1 and 2 re-compliance, will be admitted back to quotation on the ASX.
Empire was the lead manager to European Lithium Limited (ASX:EUR) for it’s successful AUD$2,100,000 capital raise by way of a Share Placement in September 2020 to fund the metallurgical test work and the progression of the Definitive Feasibility Study (DFS) for the Wolfsberg Lithium Project. The Wolfsberg project is strategically located within the fastest growing EV market and also within a growing cluster of battery precursor manufactures. EUR is well placed to service the rapidly growing European market. It is 100% owned and a high grade project with mining licence awarded. On January 2021, EUR announced it’s successful AUD$7,000,000 capital raise, with Empire as Co-Lead Manager, for the purposes of supplementing EUR’s SPP and continue exploration, development on the Wolfsberg project, Western Australian tenement considered prospective for conglomerate gold and working capital.
Empire assisted CPS Capital Group who have been appointed lead manager and broker for a capital raise of A$12,500,000 in Great Northern Palladium Pty Ltd (GNP) – incorporated as a special purpose vehicle – to fund the acquisition of the Panton PGM Project (80%) from Panoramic Resources Limited (ASX:PAN). GNP intends to either list on the ASX by way of an IPO or reverse merger into Red Emperor to acquire 100% of the shares in GNP for a minimum valuation of A$17,500,000 with a 1 for 2 attaching Option (3 years, same strike as re-compliance capital raising). The project has a combined Measured, Indicated and Inferred mineral resource, in accordance with the JORC Code of 1,008,000oz Pt @ 2.19 g/t and 1,102,000oz Pd @ 2.39 g/t (approx. 90% in the Measured and Indicated categories) and is based upon 225 drill holes for approximately 46,300m of diamond and reverse circulation drilling. Pd is up ~400% over the past 5 years due to increased penetration of hybrid vehicles, the decline of diesel vehicles and increased intensity of use as a result of stricter emissions regulations.
Empire was engaged as advisor to Comet Resources Limited (ASX:CRL) for the acquisition of the Santa Teresa Gold Project in Baja California, Mexico and arranger of the Raptor stream financing in June 2020 (US$20M). CRL also used Empire as lead manager on the A$650K capital raise to complete the Barraba Copper Project acquisition – at A$0.01 in April 2020 – which CRL has just finalised the exploration access agreement. CRL’s Share Purchase Plan (SPP) to raise $500,000 to existing shareholders is oversubscribed, raising $2,300,000, accepting an additional $500,000 worth of oversubscriptions. This was in addition to the $2,000,000 raised under the placement to sophisticated and professional investors completed in September.
Empire was the co-lead manager and originator, along with GTT Ventures, of the Goshawk Energy acquisition and associated capital raisings. On 12 August 2020, GLV announced on market its exclusive option to acquire a 20% equity interest in strategic WA oil and gas player, Goshawk Energy. On 3 September 2020, after a satisfactory completion of GLV’s due diligence, GLV exercised their exclusive option to proceed with the acquisition. To facilitate the acquisition and fund GLV’s future work program, Empire and GTT were lead managers for a Placement to raise $1,000,000 @ $0.07/share and a rights issue to raise a further ~$700,000 @ $0.07/share. Additionally, Empire and GTT were again lead managers for GLV’s Share Placement – 100,000,000 full paid ordinary shares @ $0.011 to raise $1,100,000 before costs – for working capital purposes, advancement of EP127 and to fund new opportunities in the oil and gas sector.
Empire have been involved with Galena Mining Ltd (ASX:G1A) since its inception in Sept’16 and remain currently involved. Through Empire, G1A acquired the Abra Base Metal Deposit in Western Australia – Dec’16, which them saw them pre-IPO in Feb-17 (A$0.10) and later IPO in Sept’17 (A$0.20). Empire currently holds approx. 29% of G1A (escrowed till Sept’19), making it the largest
Empire originated and facilitated NTI’’s acquisition of an exclusive worldwide licence to use proprietary cannabis strains from Dolce Cann Global Pty ltd (Dolce) for medicinal use in treating autism, epilepsy and ADHD. NTI secured the option for the acquisition on 3 July 2020 and shortly after, commenced profiling assays on Dolce proprietary cannabis strains, targeting autism and other neurological disorders. The acquisition was formally completed on 30 September 2020. Empire was co-lead managers for the issue of 67,750,000 shares at 0.5c to raise $338,750.