Metal Tiger PLC Financing Update (3368E)
03 Noviembre 2015 - 2:14AM
UK Regulatory
TIDMMTR
RNS Number : 3368E
Metal Tiger PLC
03 November 2015
Metal Tiger Plc
03 November2015
Metal Tiger Plc
("Metal Tiger" or the "Company")
Financing Update
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to advise that the Company has raised GBP290,000 through
a strategic placing and subscription of shares in the Company.
Highlights:
-- Placing and subscription of 36,250,000 new ordinary shares in
Metal Tiger at a subscription price of 0.80p per ordinary share
raising gross proceeds of GBP290,000;
-- Issue of 36,250,000 warrants to subscribe for 36,250,000 new
ordinary shares in Metal Tiger at an exercise price of 1.60p per
warrant, within an 18 month exercise period (i.e. one warrant at
1.60p for each ordinary share purchased at 0.80p);
-- Placing undertaken with high net worth investors including
primarily existing holders of Company stock;
-- Funding undertaken following an approach to the Company from
certain investors and will augment existing underlying working
capital at a time of advanced negotiations in respect of a number
of new commercial transactions.
Cameron Parry, Metal Tiger CEO commented: "Metal Tiger is
pleased to announce the securing of additional funding which
supports the Company's plans for the acquisition of new
opportunities in the natural resource sector.
We are particularly pleased that this funding was conducted
primarily due to high net worth investors seeking to acquire a
larger holding in Metal Tiger.
Prior to the placing Metal Tiger had a strong working capital
position when set against fixed investing commitments and
underlying core costs. In recent months Metal Tiger has been
advancing numerous opportunities through due diligence and
commercial negotiations. A number of such opportunities are now in
very advanced stages and may crystallise at any time.
With the additional monies raised the Company is in a stronger
position to do more and expand its interests more freely. This
enables us to build the scale and value of our business rapidly,
and we do so with the knowledge that our existing key project
interests in Spain and Thailand are progressing very well and have
formed a robust base on which we can expand the Company."
Placing and Subscription Summary
Metal Tiger has agreed a placing and subscription to raise
GBP290,000 gross proceeds through the issue of 36,250,000 Metal
Tiger new ordinary shares at price per share of 0.8p (the "Placing
Shares").
Each Placing Share issued has an accompanying warrant to
subscribe for an additional Metal Tiger new ordinary share at a
price of 1.60p at any time within the 18 months following admission
to trading of the Placing Shares (a total of 36,250,000
warrants).
Of the Placing Shares 9,750,000 shares are expected to be
admitted to trading on or around 9th November 2015 and 26,500,000
shares on or around 25(th) November 2015. Following the issue of
the total Placing Shares, the number of ordinary shares in issue in
the Company will increase to 344,625,795. For the purposes of the
Financial Conduct Authority's Disclosure and Transparency Rules
("DTRs"), the issued ordinary share capital of Metal Tiger
following this allotment consists of 344,625,795 ordinary shares
with voting rights attached (one vote per share). There are no
shares held in treasury. This total voting rights figure may be
used by shareholders as the denominator for the calculation by
which they will determine whether they are required to notify their
interest in, or a change to their interest in, Metal Tiger under
the DTRs.
For further information on the Company, visit:
www.metaltigerplc.com:
Cameron Parry Tel: +44 (0)207
(CEO) 099 0738
Paul Johnson Tel: +44 (0)7766
(Executive 465 617
Director)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) 2033
Neil Baldwin Limited 683 555
Nick Emerson (Nominated Adviser) www.sparkadvisorypartners.com
Andy Thacker SI Capital Tel: +44 (0) 1483
(Sole Broker) 413 500
Notes to Editors:
Metal Tiger Plc is a natural resources focused investing company
quoted on the London Stock Exchange AIM Market ("AIM") with the
trading code MTR and two investment divisions, Direct Equities and
Direct Projects.
The Direct Equities division invests in quoted natural resource
explorers and developers, with a combination of shares and warrants
providing a potential non-debt financing instrument and enhanced
return potential.
The Direct Projects division invests in operational mineral
exploration projects with current investments in Spanish Gold &
Tungsten, Thai Gold, Copper & Antimony, and Tanzanian Gold and
Uranium. The Direct Projects investment division also has working
collaborations to identify new investment opportunities in Russia
(platinum focus) and Turkey (gold focus), in association with
experienced in-country partners.
The Company is currently advancing due diligence and commercial
negotiations in respect of a number of new opportunities to enhance
and diversify existing interests.
Metal Tiger's target is to deliver a 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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