Thomson Geer advises Core Lithium on US$120 million strategic funding package and A$120 million equity raise to restart Finniss Lithium Project

Thomson Geer has advised Core Lithium Limited (ASX: CXO) on a US$120 million strategic funding package and A$120 million equity raise to fund the restart of its Finniss Lithium Project in the Northern Territory.

The strategic funding package comprises a US$50 million senior secured loan facility from Nebari, US$50 million in secured convertible notes from InfraVia and US$20 million in secured convertible notes from Glencore. Core Lithium will also enter into a purchase and distribution arrangement with Glencore.

The equity component involved a two-tranche placement to institutional investors.

The Thomson Geer team, led by partners Chris Bishop, David Church and Jeremy Thom, advised Core Lithium on all aspects of the transaction, demonstrating the firm’s ability to deliver seamless cross-practice support on complex and transformational transactions.

Banking & Finance partner Chris Bishop said: “We have enjoyed working closely with the Core Lithium team to deliver this transformational and complex transaction on a tight timeline. This comprehensive funding package means that Core can now restart operations at Finniss, which is a great result.

“Resurgent lithium prices are leading to significant activity in Australia’s resources sector and the Thomson Geer team is pleased to be at the forefront of these developments.”

Corporate partner David Church said securing globally recognised funding partners highlighted the strength of the project.

“Helping to secure such high-calibre financing partners is testament to the Core team and their disciplined approach to the restart of their Finniss Lithium Operation. With the requisite funding package now secured, we look forward to continuing our partnership with Core as it advances its staged restart approach through 2026 and 2027," he said.

Core Lithium CEO Paul Brown said:

“Thomson Geer has been instrumental in getting this multi-faceted deal across the line within a short space of time and we thank them for their support.”

The transaction also demonstrates continuing global support for Australian projects, with Glencore, InfraVia and Nebari participating as strategic funding partners to Core Lithium.

Chris, David and Jeremy were supported by Special Counsel Rebecca Anton, Senior Associate Kajal Parmar, Lawyers Leo Michea-Palmer and Annabel Falkner and Law Graduates Ben Perkins and Nick McHattie. Special Counsel Helen Jin advised on FIRB aspects.

Other advisors involved in the transaction were Morgan Stanley (as financial advisor to Core Lithium), Herbert Smith Freehills Kramer (as legal advisors to InfraVia), King & Wood Mallesons (as legal advisors to Glencore), K&L Gates (as legal advisors to Nebari) and Allens (as legal advisors to the joint lead managers for the equity placement).