DLA Piper in Casablanca has assisted Altus Strategies, an Africa-focused exploration project generator, on the Moroccan aspects of its admission to trading on the AIM market of the London Stock Exchange. The listing will allow the company to accelerate its growth through the acquisition and development of further projects in Africa.

The Casablanca team carried out a detailed legal review of Altus Strategies' four Moroccan subsidiaries, in accordance with the requirements of the London Stock Exchange, including the mining permits held by these subsidiaries at various locations across the country. The finalised review cleared the way for the AIM listing of parent company Altus Strategies.

The initial listing raised £1.11 million through the placing and subscription of 11,100,000 new Ordinary Shares of 1p each with a total market capitalisation of £10.8 million. The funds raised will allow Altus to advance its African projects in Cameroon, Cote d'Ivoire, Iberia, Ethiopia and Morocco.

Steven Poulton, Chief Executive of Altus Strategies Plc, said: "We have been very impressed by DLA Piper's work in Morocco for our London IPO. They have done a sterling job which was both timely and effective. Based on that work, I am certain that DLA Piper is in a position to do a great job in all of the African jurisdictions that Altus operates in."

Christophe Bachelet, Country Managing Partner in Casablanca, commented: "This was an important transaction for the Casablanca office and - in light of Morocco's new mining code coming into force last year - one which required us to advise on both the old and the new mining frameworks in Morocco, and on the transition of our client's mining permits to the new mining framework. The listing marks an important milestone for Altus Strategies and we are very pleased to have played a part in facilitating such a positive outcome for our client."

The DLA Piper team was led by Christophe Bachelet, and included Senior Legal Consultant Peter Finan and associate Kawtar Bedraoui.