METAL TIGER PLC
18 November 2015
Metal Tiger plc
("Metal Tiger" or the
"Company")
Investment in ECR
Minerals
Metal Tiger (LON:MTR), the natural resources
investing company is pleased to announce the Company's Direct
Equities division has entered into a subscription agreement to
acquire £100,000 of equity in ECR Minerals (LON:ECR), with
attaching warrants.
Readers are advised to review the announcement
released by ECR in respect of this transaction, which can be viewed
at www.ecrminerals.com.
Highlights
· Metal
Tiger to invest £100,000 to acquire 500,000,000 new ordinary shares
via a subscription in ECR Minerals plc at a price per ordinary
share of 0.02p;
· Metal Tiger will
receive one share warrant with each new ordinary share acquired for
a total of 500,000,000 warrants with an exercise price of 0.04p and
a 3 year term from admission of the subscription stock;
· In the
event that ECR announces a total mineral resource estimate at their
Danglay gold project in the Philippines exceeding 500,000 of gold
equivalent, the exercise price of any unexercised warrants will
increase to 0.06p per ordinary share.
Cameron
Parry, CEO of Metal Tiger commented: "We are please to
announce a further Direct Equity transaction with this investment
into ECR Minerals plc. Metal Tiger's Direct Equity division
is focused on the identification of, and investment in,
significantly undervalued listed natural resource companies.
The currently challenging conditions in the natural
resource sector have provided an extensive choice of investment
opportunities for companies such as Metal Tiger, who have the
working capital to take positions at what increasingly looks like a
bottoming phase for the sector.
In this case we feel the recent decline in share
price of ECR and commensurate low valuation, combined with the
upcoming potential news flow with regard to company operations,
makes our investment a highly attractive opportunity.
Furthermore, with the inclusion of warrants Metal
Tiger and its shareholders have enhanced upside potential from any
rise in the underlying share price.
We look forward to further progress announcements
from ECR Minerals over the coming weeks and months."
ECR Minerals plc reported net assets at 31 March 2015
amounted to £4,515,381 and in the year ended 30 September 2014 ECR
reported a net loss of £1,746,397.
For
further information on the Company, visit:
www.metaltigerplc.com:
Metal Tiger Plc
|
|
Cameron Parry (CEO)
|
Tel: +44 (0)207 099 0738
|
Paul Johnson (Executive Director)
|
Tel: +44 (0)7766 465 617
|
Spark Advisory Partners Limited (Nominated
Adviser)
Sean Wyndham-Quin
Neil Baldwin
|
Tel: +44 (0) 2033 683 555
|
SI Capital (Sole Broker)
Nick Emerson
Andy Thacker
|
Tel: +44 (0) 1483 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, Botswanan Copper &
Silver, 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 (gold & platinum focus) and Turkey (gold focus), in
association with experienced in-country partners.
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