METAL TIGER PLC: Investment in Pan Global Resources Inc. (TSXV:PGZ)
July 21 2020 - 11:12AM
UK Regulatory
TIDMMTR
21 July 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Pan Global Resources Inc. (TSXV:PGZ)
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to announce
that it has subscribed for 1,388,888 units in Pan Global Resources
Inc. ("Pan Global"), at a price of C$0.18 per unit, for a total
investment of circa C$250,000 (approximately GBP146,000) as part of
Pan Global's circa C$4.1 million fundraise announced on 20 July
2020 (the "Fundraise"). Each unit consists of one common share in
Pan Global and one-half of one common share purchase warrant
exercisable at a price of C$0.28 for a period of 24 months
following the closing date of the Fundraise (being 20 July
2020).
The closing mid-price of Pan Global on 17 July 2020 was
C$0.22.
Pan Global is a TSXV listed base metals explorer in Spain, with
two projects, the Aguilas Project and the Escacena Project. The
main project of interest is the Escacena Project located within the
highly prospective Iberian Pyrite Belt. The Iberian Pyrite Belt is
believed to be one of the most prolific volcanic-hosted massive
sulphide district in the World, with more than 80 known deposits
mined for pyrite, copper, zinc, gold, silver and tin, including
eight giant deposits with greater than 100 million tonnes of
massive sulphide. For the financial year ending 31 January 2020,
Pan Global reported a net loss of circa C$2.6 million and net
assets of circa C$3.7m.
See below link for Pan Global's latest announcement extending
copper mineralisation at the Escacena Project:
https://64769d92-42ea-49bb-b27d-65bd211d4a48.filesusr.com/ugd/eec401_916e985e9cc247db853a0694a464d937.pdf
For further information on the Company, visit:
www.metaltigerplc.com
Enquiries:
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: Equity
Investments and Project Investments.
Equity Investments 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 for the Project Investments division.
Project Investments 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/20200721005728/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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