Tiger Royalties & Investments PLC - London-based royalties and proactive investments group - enter exclusive advisory and investment agreement with Metrock Resources Ltd to oversee listing on a number of mineral exploration licenses that make up the Kanye manganese project in southern Botswana. The mandate grants exclusive rights to list the licences with 25 million new Tiger shares to be issued to acquire a loan and as consideration for the rights. Kanye will be incorporated into a New-Co and listed on an exchange, with Tiger will invest GBP131,250 in the pre-IPO investment round. Tiger will be warded 10 million share in New-Co on successful completion of the IPO and will be entitled to a 2% net smelter return on manganese assets.
Current stock price: 0.34 pence
Year-to-date change: up 21%
By Anna Farley; annafarley@alliancenews.com
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Tiger Resource (TIR)