Grafico Azioni Metal Tiger (LSE:MTR)
Da Mag 2020 a Lug 2020
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:
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)
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
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/
Metal Tiger plc
SOURCE: Metal Tiger plc
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(END) Dow Jones Newswires
May 22, 2020 02:15 ET (06:15 GMT)