METAL TIGER PLC: Pan Asia Metals -- Further IPO investment commitment
September 01 2020 - 3:06AM
UK Regulatory
TIDMMTR
1 September 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Pan Asia Metals -- Further IPO investment commitment
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to announce
that, further to the Company's announcement of 13 August 2020, it
has signed a binding commitment to invest a further A$150,000 in
Pan Asia Metals Limited ("PAM"), bringing Metal Tiger's total
commitment amount to A$650,000, for 3,250,000 new ordinary shares
at an issue price of A$0.20 per share, as part of PAM's proposed
IPO on the ASX ("IPO"). Metal Tiger will update investors on
completion of PAM's IPO, which is targeting admission to the ASX in
late September.
Assuming that PAM raises the maximum contemplated amount of A$6
million pursuant to its IPO offering and Metal Tiger's commitment
is not scaled back, the Company will be interested in approximately
8.08% of PAM on its admission. Metal Tiger currently holds
7,627,477 ordinary shares in PAM, representing 7.29% of PAM's
current issued share capital
PAM is an exploration and development company focused on
specialty and base metal projects in South East Asia. For the
financial year ended 31 December 2019, PAM reported a net loss of
approximately US$620,676 and net assets of US$6,553,964. Further
information on PAM can be found via its website at
www.panasiametals.com
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/20200901005479/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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