Kinstellar has advised Mineral Ventures Invest on a reverse takeover transaction involving the acquisition of the majority stake in Irish mining and exploration company IMC Exploration Group. Dublin-based Mason Hayes Curran reportedly advised IMC.
Mineral Ventures Invest is a Czech natural resource mining company based in Armenia since 2018. It operates the producing Karaberd mine in the region of Lori.
According to Kinstellar, "MVI – part of the private Czech holding group Holding Zlato – has become the majority owner of IMC. As consideration for the newly issued shares, IMC has acquired an ownership interest in MVI through its Armenian subsidiary, which owns a mining license for a gold mine in Karaberd, Armenia."
The IMC Exploration Group's shares are listed on the prime market of the London Stock Exchange. The transaction had to be cleared with the Irish Takeover Panel and, due to the readmission of the shares in IMC, also involved the publication of a prospectus that required approval from the UK Financial Conduct Authority, the firm reported.
The Kinstellar team included Prague's Managing Partner Lukas Sevcik, Managing Associate Vaclav Kment, and Senior Associate Matej Vecera.