Case Studies

Mining and exploration company takeover

Piper Alderman advised Cobalt 27 on the complex and challenging $130m takeover of Highland Pacific.

Team: Mark Gordon, Mark Williamson, Sina Kassra, Egor Serov, Sam Blight

Service: Corporate & Commercial | Mergers & Acquisitions
Sector: Energy & Resources | Mining

Cobalt 27 Capital Corp is a Toronto-based minerals company that offers direct exposure to cobalt, an integral element in key technologies. The company focuses on investing in an electric metals-focused portfolio of streams, royalties, and direct interests in minerals properties. Piper Alderman was an integral legal adviser on the takeover of Highlands Pacific Limited and its financing. The transaction value was around $130m. Alongside the scheme, Cobalt 27 also sold the Frieda River Asset to PanAust. The company continues expanding its portfolio in key technologies related to electric vehicles and battery energy storage. The acquisition of Highlands increased the company’s exposure to the Ramu nickel-cobalt mine in Papua New Guinea, creating a leading high-growth, diversified battery metals streaming and royalty company.

Piper Alderman was crucial in overseeing the scheme arrangement as lead counsel, with Stikeman Elliott LLP and Dentons acting as Cobalt 27’s Canadian and PNG counsel, respectively. The experience and knowledge of our team enabled us to oversee the deal successfully.

Piper Alderman Partner, Mark Williamson, said:

“This transaction involved numerous complex and novel issues. The challenges came thick and fast, but we are very pleased to have been able to overcome those challenges through fantastic teamwork and innovative thinking. We are delighted to have assisted Cobalt 27 in completing this deal that will see them become an even more significant player in the battery minerals market.”