The Leeds and Dublin offices of International legal business DWF has advised mineral explorer Erris Resources plc in respect of its admission to trading on AIM.

The Leeds and Dublin offices of International legal business DWF has advised mineral explorer Erris Resources plc in respect of its admission to trading on AIM.

As part of the admission process, Erris Resources raised £4million through a placing of 16,000,000 new ordinary shares at a placing price of 25 pence each, implying a market cap of £7.8million on Admission.

Ross Little, Executive Partner of DWF Dublin, and Jon Marriott, corporate partner in Leeds, alongside John Scanlon, corporate solicitor based in Dublin, advised on the transaction which will see the company benefit from the rise in zinc prices which have jumped by around a quarter in 2017.

Commenting on the deal Jon Marriott said: "We are delighted to have been able to draw on DWF's extensive experience in the resources sector to assist Erris Resources with this important step in its development."

Ross Little added: "This deal is significant as it represents one of the first capital market transactions that DWF have advised on on a cross-border basis, utilising DWF's extensive international network of offices."

DWF's strong corporate practice has advised a number of high profile transactions this year across all sectors, including the sales of Sofology to DFS and advising US digital media company Irish Studio on the acquisition of six consumer magazines from Norah Casey's publishing house Harmonia. These titles include Irish Tatler, Irish Tatler Man, U Magazine, FOOD & WINE Magazine, Auto Ireland and Ireland of the Welcomes.