MTR Metal Tiger Plc

 
TIDMMTR 
 
 

23 January 2018

Metal Tiger Plc

("Metal Tiger" or the "Company")

Strategic Investment & Agreement - Thor Mining

Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce a strategic financing and agreement has been secured with Thor Mining plc (LON/ASX:THR "Thor"). Thor has a highly prospective and exciting portfolio of exploration and development projects across tungsten, copper and lithium.

Highlights:

 
 
    -- Metal Tiger to invest GBP300,000 in Thor through a subscription for 

10,000,000 new ordinary shares at 3p per share and at a 20% premium to

the previous day's closing share price of Thor on AIM (2.5p on 22

January 2018);

 
    -- Money raised will be applied to the advancement of key Thor projects 

including Molyhil, Pilot Mountain and Kapunda Copper;

 
    -- For each subscription share Metal Tiger will also receive one warrant 

to subscribe for one new ordinary share in Thor at 5p per share with a

two-year maximum exercise life;

 
    -- Should the share price of Thor exceed a 14p volume weighted average 

price for 5 consecutive business days, Thor may, at its sole

discretion, seek accelerated conversion of the warrants secured by

Metal Tiger. In the event that Metal Tiger does not convert upon

receipt of this request, Metal Tiger would forfeit its rights to the

warrants;

 
    -- Metal Tiger, reflective of the premium price paid for Thor stock, will 

receive a 90 day right of first refusal to participate in any new

joint venture, acquisition or similar transaction undertaken by Thor

during this period;

 
    -- The right of first refusal shall not automatically include any current 

discussions or negotiations with third parties in relation to existing

Thor projects held or projects already under review, however Thor may

extend an invitation to Metal Tiger to participate should this be

considered appropriate to all parties.

Following this issuance, Metal Tiger will be interested in 61,350,000 ordinary shares of Thor which following admission to trading will represent 9.94% of the issued share capital of Thor.

For the year end 30 June 2017 Thor Mining plc reported an audited net loss of GBP1,283,000 and as at 30 June 2017 had audited net assets of GBP9,910,000.

Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:

"Metal Tiger is a financially robust and proactive natural resource investing business looking for new opportunities to deploy capital into companies and projects with considerable upside potential. We are delighted to increase our position through this strategic financing.

We consider the size, potential and scalability of Thor's key projects to be of significant interest and that the current valuation placed on Thor offers considerable upside potential for investors.

We look forward to working with Thor to assess commercialisation opportunities.

Metal Tiger remains highly engaged on its current key projects in Botswana and Thailand and will continue to innovate on the investing arm to bolster its balance sheet with a view to minimise dilution for investors as it funds its 30% joint venture interest in Botswana and covers minimal monthly costs in Thailand whilst progress is awaited on key regulatory matters."

 
   For further information on the Company, visit:   www.metaltigerplc.com   : 
 
Michael McNeilly (Chief                         Tel: +44(0)20 7099 0738 
Executive Officer) 
Keith Springall (Finance                        Tel: +44 (0)20 7099 0738 
Director 
& Company Secretary) 
Stephen Allen or             RFC Ambrian Ltd    Tel +44 (0)20 3440 6800 
Bhavesh Patel                (Nominated 
                             Adviser) 
Jonathan Williams            RFC Ambrian Ltd    Tel +44 (0)20 3440 6800 
                             (Joint Broker) 
Nick Emerson                 SI Capital         Tel: +44 (0)1483 413 500 
                             (Joint Broker) 
Gordon Poole                 Camarco            Tel: +44 (0)20 3757 4980 
James Crothers               (Financial PR) 
 
 

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, the Company has tungsten and gold interests in the highly-mineralised Extremadura region. In Thailand, Metal Tiger has interests in two potentially near-production stage silver/lead/zinc mines as well as 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 viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.

View source version on businesswire.com:http://www.businesswire.com/news/home/20180123005812/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

January 23, 2018 07:02 ET (12:02 GMT)