Fox Williams advises AIM and TSXV-listed Edge Resources on its $5 million UK placing

January 2, 2013

Fox Williams LLP advised AIM and TSXV-listed Edge Resources Inc. (“Edge” or the “Company”) on its recent UK-based secondary placing (the “Placing”) through the issuance of 19,531,250 common shares  with new and existing institutional investors at a price of 16p per share for gross proceeds of $5 million (£3.125 million).   Fox Williams had previously advised Edge on its dual-listing on AIM in July 2012.

The Placing was done at a 60% premium to the initial July, 2012 AIM listing price, was supported by major institutional investors and was oversubscribed.  The proceeds will be used to further develop the Company’s shallow, conventional oil prospects in Western Canada with the intent of simultaneously increasing both production and reserve value.

Head of Capital Markets Richie Clark and  Corporate Associates Sharon O'Donnell and Andrew McGlashan led the Fox Williams team on the Placing. Tingle Merrett acted as Canadian solicitors to the Company, while Merchant Securities acted as the Company's nominated adviser and broker.

Brad Nichol, President & CEO of Edge, commented: "The benefits of our AIM listing are already bearing fruit, as we have now demonstrated an ability to close a placing very quickly, with less cost and less dilution than what would have normally been required in Canada.  This placing also allowed us to add some exceptionally large, blue-chip institutional investors to our share register; many of whom normally reserve their investment capital for large-cap companies.  This support, in conjunction with Henderson Global Investors’ continued backing, gives Edge a critical competitive advantage in a capital-constrained market.”  

Richie Clark commented: "Raising this level of funding was a real achievement in what were extremely difficult market conditions and a testament to the value for Canadian and international companies of having access to a deep pool of UK institutional investors by virtue of an AIM listing.   It was a pleasure working with the Edge and Merchant teams to obtain a successful result which will enable the Company to kick-on and further develop its impressive asset base."


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