Memery Crystal advises on three fundraisings in three weeks

Memery Crystal’s Equity Capital Markets team advised on the transactions which spanned across AIM and the Main Market of the London Stock Exchange, involving a number of international jurisdictions including Australia, the USA, Jersey, Zimbabwe and South Africa. Two of the fundraisings have already completed while the other is expected to complete later this year.

Caledonia Mining Corporation plc, the AIM-traded gold production, exploration and development company, raised approximately £8.7 million before expenses pursuant to a placing. MGC Pharmaceuticals Ltd., the Main Market-traded European based pharmaceutical company specialising in the production and development of plant inspired medicines, raised up to £2 million before expenses pursuant to its fundraising round. Kelso Group Holdings plc, the Main Market-listed investment company, announced its intention to conduct a placing of up to £3 million before expenses.

Robert Bines-Black, Corporate Partner, advised on all three fundraisings. Nick Davis, Senior Partner, advised on the MGC Pharmaceuticals placing and Lesley Gregory, Chair of Memery Crystal, advised on the Caledonia Mining fundraising. The Partners were assisted by Corporate Solicitors Ravina Mahajan and Darryl Chew and Trainee Solicitors Michael Lanning and Menelaos Yiannakas.

Robert Bines-Black commented: “Despite challenging market conditions internationally, Memery Crystal’s Equity Capital Markets team has so far had a busy 2023, acting on a range of public takeovers, IPOs and fundraisings. It has been a pleasure to work with the teams at Caledonia Mining, MGC and Zeus on these latest raises, and we look forward to continuing to provide advice to our clients looking to raise funds in London during the rest of 2023.”

Roby Zomer, Managing Director and CEO of MGC Pharmaceuticals, said: “This fundraise will provide MGC Pharma with the capital required to continue the excellent progress we have made advancing our clinical pipeline. We see it as a vote of confidence in both our clinical pipeline and our strategy, which we continue to progress, most recently with CannEpil®, which is now available in the United Kingdom by Named Patient Request to be prescribed by doctors on The General Medical Council specialist register across the UK. Nick, Robert and the rest of the Memery Crystal team provided excellent support to us throughout the process, sticking to a tight timetable and providing valuable advice.”

Yifat Steuer, Chief Operational Officer of MGC Pharmaceuticals, added: “We enjoyed working closely with Nick, Robert and their team. Their excellent communication helped the transaction proceed in a timely and orderly manner, and they were always quick to follow up on emails and provide transaction documents.”