Metal Tiger PLC Strategic Investment in Greatland Gold (3923U)
April 06 2016 - 9:30AM
UK Regulatory
TIDMMTR
RNS Number : 3923U
Metal Tiger PLC
06 April 2016
Metal Tiger Plc
6 April 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
STRATEGIC INVESTMENT IN GREATLAND GOLD
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource projects is pleased to
announce the Company has agreed to make a strategic investment in
Greatland Gold plc (LON:GGP)("Greatland Gold").
Highlights:
-- Metal Tiger to invest GBP150,000 to acquire 150 million
shares in Greatland Gold at a price of 0.10p per new ordinary share
which equates to c12.6% of Greatland Gold shares in issue post the
placing;
-- Metal Tiger will also receive 150 million warrants to acquire
new ordinary shares in Greatland Gold at an exercise price of 0.20p
per new ordinary share exercisable at any time within 3 years of
the placing shares being admitted to trading;
-- Board restructuring to take place at Greatland Gold - John
Watkins has stepped down from his Non-executive director role with
immediate effect and Paul Johnson (CEO of Metal Tiger) and Alex
Borrelli (Non-executive director of Metal Tiger) of Metal Tiger plc
will, following completion of standard due diligence procedures,
join as new Non-executive directors. Andrew Bell remains Chairman
of Greatland Gold and Callum Baxter becomes Executive Director;
and
-- New board of Greatland Gold to launch an immediate full
strategic review covering existing exploration interests and
various pipeline acquisition opportunities that may be suitable for
the Greatland Gold business.
Terry Grammer, Chairman of Metal Tiger plc commented "We are
delighted to announce the investment in Greatland Gold which
exposes Metal Tiger shareholders to equity and warrant upside in a
clean resource operating company at a modest valuation given the
recent resource sector apathy in the markets.
Paul Johnson and Alex Borrelli will contribute to the strategic
review which is designed to ensure that Greatland Gold focuses its
managerial and financial resources on its highest potential
projects, whilst identifying new opportunities to refresh the
business model and recharge management and investors.
Greatland Gold is well positioned to benefit from a sector
recovery in natural resources, however to expedite and maximize the
company's share price recovery, henceforth Greatland Gold needs to
be more proactive on the ground and more communicative in the
marketplace. Metal Tiger representative Non-executive directors can
assist this process.
We are hugely excited by the opportunity afforded by our
investment and involvement in Greatland Gold. We look forward to
updating investors further as matters progress."
Paul Johnson, CEO of Metal Tiger, and his spouse have a combined
beneficial interest of 54,406,636 shares in Greatland Gold
representing 5.48% of the issued share capital (before the
placing). Consequently, Paul Johnson has absented himself from any
Board discussions regarding this potential investment.
For further information on the Company, visit:
www.metaltigerplc.com:
Paul Johnson Tel: +44 (0)7766
(Chief Executive 465 617
Officer)
Terry Grammer Tel: +44 (0)207
(Non- Executive 099 0738
Chairman)
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 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 may be undertaken by Metal
Tiger or by an ISDX or AIM partner with whom the Company is
engaged.
Metal Tiger also has an Asset Trading Division that holds
various financial instruments for trading purposes including
equities, warrants and royalty income. The aim of the division is
to generate profits to reinvest into the Company's project based
activities.
As the resource sector moves solidly into the recovery phase
opportunities exist for Metal Tiger to take a more proactive role
within its investments, something that can be seen occurring in
MetalNRG (ISDX:ZIMO) and Greatland Gold plc (LON:GGP). Further
participatory financing transactions are planned, to build the
network and presence of the Metal Tiger business ethos and to
create investments capable through capital growth in material
augmenting metal Tiger's underlying working capital.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSSEFDMFMSESL
(END) Dow Jones Newswires
April 06, 2016 09:30 ET (13:30 GMT)
Metal Tiger (LSE:MTR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Metal Tiger (LSE:MTR)
Historical Stock Chart
From Sep 2023 to Sep 2024