Fasken advised Greenstone Resources LP in connection with its C$10 million equity investment in Excelsior

Fasken Martineau advised Greenstone Resources LP (Greenstone) in connection with its C$10 million equity investment in Excelsior Mining Corp (Excelsior), a TSX-V listed mineral exploration and development company. Greenstone is a London-based private equity fund specialising in the mining and metals sector. Greenstone acquired approximately 32.4 million common shares of Excelsior, representing approximately 28.2% of Excelsior’s issued and outstanding common shares. The investment closed in two tranches and received the approval of the shareholders of Excelsior. In connection with the investment, Greenstone and Excelsior entered into an Investor Rights Agreement which granted Greenstone, among other things, the right to nominate two directors to the Excelsior board. The net proceeds of the transaction will be used for the continued development of Excelsior’s Gunnison Copper Project located in Arizona. Fasken Martineau advised Greenstone with a team that included Al Gourley, Jodi Katz and Vanessa McMinn.