9 Jun 2021 07:22
9 June 2021
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Pan Global Resources Inc. (TSXV:PGZ)
Metal Tiger plc (AIM: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 750,000 shares in Pan Global Resources Inc. (“Pan Global”), at a price of C$0.60 per share, for a total investment of circa C$450,000 (approximately £264,000) as part of Pan Global’s C$14.95 million fundraise announced on 8 June 2021 (the “Fundraise”). There was strong demand for the Fundraise.
Following completion of the Fundraise, Metal Tiger will hold 1,176,944 shares in Pan Global, representing approximately 0.64% of the enlarged share capital following the Fundraise. In addition, Metal Tiger currently holds 694,444 warrants in Pan Global exercisable at a price of C$0.28.
The closing mid-price of Pan Global on 8 June 2021 was C$0.77.
Pan Global Resources Inc is a TSXV listed precious and base metals explorer in Southern Spain. Pan Global’s 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 quarter ending 30 October 2020, Pan Global reported a net loss of circa C$1.1 million and net assets of circa C$5.5 million.
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 |
Mark Potter | (Chief Investment Officer) |
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James Dance Georgia Langoulant | 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") and the ASX Market of the Australian Securities Exchange Market ("ASX") 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.
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