LONDON – Troutman Pepper Locke advised long-standing client Adriatic Metals Plc (ASX: ADT, LSE: ADT1, OTCQX:ADMLF) on its successful two-tranche institutional placing to raise A$80 million (US$50 million) by the issue of over 20.5 million new shares. For more information, read the press release.

Adriatic Metals is a precious and base metals mining company that owns the flagship Vares Silver Operation in Bosnia and Herzegovina, and the Raska Zinc-Silver Project in Serbia. The company intends to use the proceeds from the placing to secure long-lead items to fast-track the expansion of the Vares Processing Plant, initiate studies and workstreams at the Rupice Mine to support production growth, and provide spare capacity to de-risk ramp-up to nameplate production, which is anticipated in the second half of 2025.

The Troutman Pepper Locke team advising Adriatic Metals was led by Nick Jennings and included Charlotte Whitley-Roberts.

Canaccord Genuity, RBC Europe Limited, and Stifel Nicolaus Europe Limited acted as joint lead managers and joint bookrunners in connection with the placing. Canaccord Genuity acted as global coordinator to the placing.

Troutman Pepper Locke

Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.

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