News

Burness has advised oil and gas technology company Adrok Ltd on its £3million equity investment from leading Canadian mining company Teck Resources Limited.

This investment by Teck will allow Adrok to advance its ground breaking Atomic Dielectric Resonance (ADR) technology to produce the next generation of on and offshore systems for locating, identify and mapping subsurface natural resources.

Commenting on the investment, Peter Lawson, head of corporate finance at Burness, said, "We are delighted to have supported Adrok on this important investment which will create new job opportunities and assist in the company’s global expansion of its innovative virtual drilling technology. Our corporate team has strong credentials in the technology sector and we look forward to partnering Adrok’s management team as it continues to grow one of Scotland’s leading technology companies.”

Gordon Stove, Managing Director of Adrok, commented: “This was an extremely significant deal for Adrok and we needed the best legal advice.  By providing Adrok with an exceptionally high calibre of service, incredible understanding of our needs and fast delivery of products throughout this transaction, Burness has yet again demonstrated that they are one of the best law firms in Scotland.”