Investment in Artemis Resources

3 Jun 2021 07:09

Metal Tiger plc

("Metal Tiger" or the "Company")

Investment in Artemis Resources

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 12,500,000 new ordinary shares in Artemis Resources Limited (ASX:ARV) (“Artemis”) at an issue price of A$0.06 per share for a total consideration of approximately A$750,000 (c.£409,653).

The investment forms part of a capital raise by Artemis of A$7.0 million. The placement was met with strong demand from institutional investors.

The use of the proceeds from the capital raising will be to fund exploration drilling at the Paterson and Carlow Castle gold-copper projects in the Pilbara, Western Australia, as well as for general working capital purposes.

Following completion of the fundraise, Metal Tiger will hold 14,357,305 shares in Artemis which will represent approximately 1.15% of the enlarged share capital following the fundraise.

Mark Potter, Director and Chief Investment Officer of Metal Tiger, is Non Executive Chairman of Artemis Resources.

For the interim six month period ended 31 December 2020, Artemis reported net assets of A$57,062,746 and a net loss of A$4,270,300.

A link to the Artemis press release can be found below:

Artemis completes A$7m placement to accelerate drilling campaigns:

https://artemisresources.com.au/investors/#asx-announcements

For further information on the Company, visit: www.metaltigerplc.com

Enquiries:

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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