20 Jul 2020 09:10
20 July 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Aurelius Minerals Inc. (TSXV:AUL)
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 2,000,000 units in Aurelius Minerals Inc. (“Aurelius”), at a price of C$0.05 per unit, for a total investment of C$100,000 (approximately £59,091) as part of Aurelius’ circa C$4.4 million fundraise announced on 17 July 2020 (the “Fundraise”). Each unit consists of one common share in Aurelius and one-half of one common share purchase warrant exercisable at a price of C$0.07 for a period of 24 months following the closing date of the Fundraise being 17 July 2020. Metal Tiger has also exercised 2,000,000 warrants in Aurelius at a price of C$0.06 for a cost of C$120,000.
Upon closing of the Fundraise, Metal Tiger will, taking into account its current shareholding and the exercise of the warrants, be interested in, in aggregate, 4,265,000 common shares in Aurelius and 1,000,000 C$0.07 warrants over common shares. The closing mid-price of Aurelius on 17 July 2020 was C$0.095.
Aurelius is a TSXV listed gold exploration and development company, with a primary focus on the Aureus Gold project, comprising four different properties in Nova Scotia, Canada. For the nine month period ended 31 December 2019, Aurelius reported a net loss of C$1.0 million. As at 31 March 2020, Aurelius had net assets of C$1.5 million.
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 James Dance Jack Botros | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
Paul Shackleton Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 |
Gordon Poole James Crothers Hugo Liddy | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
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/20200720005238/en/
Copyright Business Wire 2020