13 Aug 2020 10:35
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Pan Asia Metals – 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 July 2020, it has signed a binding commitment to invest A$500,000 in Pan Asia Metals Limited’s (“PAM”), for 2,500,000 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 7.53% 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 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/20200813005324/en/
Copyright Business Wire 2020
MTR.L (MTR)