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Druces advises Egdon Resources plc in connection with a £1.05 million subscription and convertible loan note instrument

Druces’ Capital Markets team has advised AIM-listed Egdon Resources plc in connection with subscription agreements with Petrichor Partners, LP and Jalapeño Corporation, subject to certain terms and conditions, to raise gross proceeds of approximately £1.05 million through the issue of convertible loan notes in order to fund ongoing exploration and development projects. Completion of the subscriptions and convertible loan notes is conditional upon shareholders passing resolutions, including a whitewash resolution, at a general meeting to be held on 22 January 2021. Druces worked closely with VSA Capital Limited during the transaction, who is joint broker to Egdon. WH Ireland Limited is also joint broker and Nomad.

Druces’ Capital Markets team included David Smith (Partner) and Jack Kemmish (Senior Associate).

Mark Abbott, Managing Director of Egdon, commented: “We have been pleased and impressed with the timely, professional and pragmatic advice and support provided by the team at Druces’ in relation to this transaction and look forward to working with them in the future.”

Jack Kemmish commented: “We were delighted to work with Mark and VSA Capital on this transaction along with the company’s other advisers. The funds raised will assist with Egdon’s present and future plans, and we look forward to the opportunity to build upon our relationship.”

Further information

Further details of the subscriptions, convertible loan note instrument and general meeting are located at:

For more information about our Capital Markets team and how we can help your business, please speak to your usual Druces contact or: