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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Metal Tiger Plc | LSE:MTR | London | Ordinary Share | GB00BMQC0691 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.06 | 8.00 | 10.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMTR
Metal Tiger Plc
("Metal Tiger" or the "Company")
Sprott Private Placement Offering Raises GBP4.29 million
Metal Tiger (LON: MTR), the natural resources investing company is pleased to announce that further to its announcement yesterday regarding the signing of a term sheet and engagement letter with Sprott Capital Partners ("Sprott"), that the Offering, run by Sprott closed at 4pm EST yesterday and was oversubscribed. Metal Tiger has elected to accept GBP4.29 million on the same terms as announced yesterday at the fixed price of 3p per unit under the Offering.
The net proceeds of this Offering will be used to fund Metal Tiger's portion of its commitment to 2017 budget for its Joint Venture ("JV") project with partners MOD Resources (ASX:MOD) in the Kalahari Copper Belt in Botswana (30% Metal Tiger / 70% MOD Resources) as well as for working capital and general corporate purposes.
Shareholders should note that the Offering is conditional on certain conditions being met before the closing date of 17 April 2017 ("the Closing Date") as set out in the announcement yesterday. If these conditions are not met by the Closing Date, the Offering may not occur and Metal Tiger may not raise the GBP4.29 million. The Closing Date may be changed upon mutual agreement of Sprott and Metal Tiger.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc commented: "We are extremely pleased with the strong demand for this Offering, which was oversubscribed and brings new long term institutional shareholders on to the shareholder register. We look forward to working with Sprott to complete this fundraising process over the coming weeks and which will place Metal Tiger in a position of considerable strength with exceptionally supportive shareholders to continue to fund its copper projects in joint venture with MOD Resources in Botswana."
A further announcement will be made in due course.
For further information on the Company, visit: www.metaltigerplc.com:
Michael McNeilly(Chief Tel: +44(0)20 7099 0738 Executive Officer) Keith Springall (Finance Tel: +44 (0)207099 0738 Director & Company Secretary) Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) Neil Baldwin Limited 2033 683 555 (Nominated Adviser) www.sparkadvisorypartners.com Nick Emerson SI Capital Tel: +44 (0)1483 413 500 Andy Thacker (Joint Broker) Andrew Monk VSA Capital Limited Tel: +44 (0)20 3005 5000 Andrew Raca (Joint Broker) Gordon Poole Camarco Tel: +44 (0)203 757 4980 James Crothers (Financial PR)
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company's target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger's Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170329005482/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
March 29, 2017 04:03 ET (08:03 GMT)
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