Zinnwald is a lithium development company focused on becoming an important supplier to Europe's fast growing battery sector. Zinnwald raised £18.75m from existing and new investors which involved a cornerstone investment of 25% being taken by Advanced Metallurgical Group (AMG), a leading participant in the European lithium industry.
The proceeds of the fundraising will be used by Zinnwald to further develop its lithium project based in Germany which, together with AMG's strategic support, has the potential to be one of Europe's more advanced battery-grade lithium projects. This is especially important given the newly published European Critical Raw Materials Act aimed at reducing the EU's dependence on imported raw materials of sector-specific importance.
The UK-based DWF Equity Capital Markets team was led by partner John Campion, alongside director Jemil Visram, supported by trainee solicitors Narissa Pankhania and Lydia Keeley.
John Campion said: "We're thrilled to have advised Zinnwald on this key fundraising, in an industry that is essential in the development of electric vehicle batteries. The potential represented by Zinnwald's lithium project in Germany meant that the fundraising was carried out at a share price premium, which in current market conditions is very impressive. We have acted for Zinnwald since its IPO on AIM in 2017 and look forward to seeing how the business progresses".
Anton du Plessis, Chief Executive Officer of Zinnwald said: "We are grateful to John and the team at DWF for their help and advice in getting this key fundraise over the line. We look forward to working with AMG and advancing the Project rapidly".
