METAL TIGER PLC: Investment in Trident Resources
22 Maggio 2020 - 8:15AM
UK Regulatory
TIDMMTR
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Trident Resources
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to announce
that it has conditionally subscribed for 2,850,000 new ordinary
shares of 1 pence each in Trident Resources PLC ("Trident")
(LSE:TRR) at a price of 20 pence per share (the "Placing Price"),
for a total investment of GBP570,000 (US$700,000) (the
"Investment").
The Investment forms part of conditional placing of new ordinary
shares by Trident, raising, in aggregate, GBP16 million
(approximately US$20 million) (the "Placing") in connection with
its admission to trading on AIM ("Admission"). Admission of the
issued share capital of Trident, as enlarged by the Placing, is
expected to occur on or around 2 June 2020.
The Placing, and therefore Metal Tiger's participation therein,
remains conditional upon the requisite placing agreement becoming
unconditional in all respects, certain shareholder approvals being
received at Trident's Annual General Meeting scheduled for 27 May
2020, and Admission.
Trident is a growth-focused, diversified mining royalty and
streaming company, aiming to provide investors with exposure to a
mix of base and precious metals, bulk materials (excluding thermal
coal) and battery metals. Upon Admission, Trident's share capital
will comprise 103,500,000 ordinary shares, representing a market
capitalisation, at the Placing Price, of approximately GBP20.7
million (approximately US$25.3 million). Metal Tiger's Investment
will represent approximately 2.75% of Trident's issued share
capital on Admission.
Trident's announcement relating to the Placing can be found at
the following link:
https://www.tridentresources.co.uk/news
Mark Potter, Director and Chief Investment Officer of Metal
Tiger, is an independent Non-Executive Director of Trident.
For the year ended 30 December 2019, Trident reported net assets
of US$4.1m and a net loss of US$0.7m.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc,
commented:
"This is an exciting new investment for Metal Tiger that
provides shareholders with exposure to a recently established, high
growth-focused royalty and streaming investment company for the
mining sector. We are delighted that Trident is set to successfully
launch on AIM, and we look forward to further updates from Trident
as they focus on delivering on their strategy."
This announcement contains inside information for the purposes
of the market abuse regulation (EU No. 596/2014) ("MAR").
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer)
Richard Tulloch Strand Hanson Limited (Nominated Tel +44 (0)20 7409 3494
James Dance Adviser)
Jack Botros
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
Notes to Editors:
Metal Tiger plc is admitted to the AIM market of the London
Stock Exchange AIM Market ("AIM") with the trading code MTR and
invests in high potential mineral projects with a base, precious
and strategic metals focus.
The Company'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. Metal Tiger has two investment divisions: Direct Equities
and Direct Projects.
The Direct Equities Division invests in undervalued natural
resource companies. The majority of its investments are listed on
AIM, the TSX and the ASX, which includes its interest in Sandfire
Resources Limited (ASX: SFR). The Company also considers selective
opportunities to invest in private natural resource companies,
typically where there is an identifiable path to IPO. Through the
trading of equities and warrants, Metal Tiger seeks to generate
cash for investment in the Direct Projects Division.
The Direct Projects Division is focused on the development of
its key project interests in Botswana, where Metal Tiger has a
growing interest in the large and highly prospective Kalahari
copper/silver belt through its interest in Kalahari Metals
Limited.
The Company actively assesses new investment opportunities on an
on-going basis and has access to a diverse pipeline of new
opportunities in the natural resources and mining sectors. For
pipeline opportunities deemed sufficiently attractive, Metal Tiger
may invest in the project or entity by buying publicly listed
shares, by financing privately and/or by entering into a joint
venture.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200521005833/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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May 22, 2020 02:15 ET (06:15 GMT)
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