WFW advises Mariana Resources on acquisition of Aegean Metals Group

13 November 2014

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Mariana Resources Ltd (“Mariana”) on the acquisition of Aegean Metals Group (“Aegean”), and with it, highly prospective gold, copper and silver projects in Turkey and Chile. WFW has also recently advised Mariana on an option agreement to earn up to a 50.01% interest in a development company for a gold project in Suriname, and a US$6 million convertible securities issuance.

In acquiring Aegean, AIM-listed exploration and development company Mariana acquires four highly prospective projects including two advanced gold-copper exploration projects (Ergama and Hot Maden) in Turkey, and two gold-silver exploration properties in northern Chile (Doña Ines and Exploradora East). Mariana currently has ongoing projects in Peru, Argentina and Chile.

WFW advised Mariana on the deal, which will see Mariana acquire all issued and outstanding Aegean shares in exchange for the issuance of 1.902 ordinary shares of Mariana for every share of Aegean held.

WFW also advised Mariana on the option agreement to acquire up to 50.01% in Nassau Gold Limited, a joint venture company between Mariana and Sumin Resources for the development of the Nassau Gold Project. The Nassau Project is located in a highly promising area in Suriname, where other successfully producing goldfields are operating.

Previously WFW advised Mariana on a convertible securities issuance deed with Bergen Global Opportunity Fund for up to US$6m. The initial drawdown was for US$2m, to be followed by two further zero coupon securities at Mariana’s discretion, which will fund further working capital in its South American portfolio in the next 12 months.

The WFW team on all three deals was led by London partner and WFW Head of Natural Resources, Jan Mellmann. He was assisted by London corporate associates Jenny Hodges and David Teare.

Glen Parsons, CEO of Mariana, said “Mariana would like to thank Jan, Jenny and David for their hard work during these last busy months. Mariana continues to value WFW experience and advice as we reposition the company for growth for the future. The dedicated team led by Jan has always been there for us despite market conditions and our relationship has certainly been cemented since listing in 2006. We look forward to the continued relationship as our strategy unfolds.”

Jan Mellmann, said: “We are pleased to have advised Mariana on these three significant deals recently, which will provide the company with more working capital and some very promising development opportunities going forward. The deals combined our expertise in the natural resources sector and in advising AIM-listed clients.”