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Client Work

MF2 Investment Company 1 LP completes US$18.3 million equity and royalty financing in Oracle Mining and enters offtake agreement

Fasken
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MF2 Investment Company 1 LP

On November 21, 2012, MF2 Investment Company 1 LP (MF2), an affiliate of RK Mine Finance (Master) Fund II LP, completed an $8.3 million private placement to acquire shares and warrants of Oracle Mining Corp. (Oracle). MF2 also purchased a 3% net smelter return royalty on the Oracle Ridge Copper Mine in Arizona, USA for US $10 million. In addition, Oracle and MF2 entered into an offtake agreement which provides that MF2 will purchase 100% of the Oracle Ridge Copper Mine’s future annual copper concentrate production for the life of the mine. MF2 was advised by Fasken Martineau with a team that included Nancy Eastman, Daye Kaba and Anne Cobbett (securities/mergers and acquisitions), Michael Bourassa (mining) and Magdalena Chmurzewski (corporate).

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