STRATEGIC INVESTMENT - CONROY GOLD
Metal Tiger Plc
04 May 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
STRATEGIC INVESTMENT - CONROY GOLD AND NATURAL RESOURCES
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce a strategic investment totalling £125,000 in Conroy Gold and Natural Resources plc ("Conroy Gold")(AIM:CGNR).
§ Investment of £125,000 in cash to acquire 675,675 Conroy Gold shares at 18.5p;
§ Metal Tiger to receive one warrant at 37p for each Conroy Gold share purchased at 18.5p in the placing (being 675,675 warrants in total), with a warrant life of 30 months;
§ Warrants subject to an accelerator whereby in the event that Conroy Gold shares trade for in excess of a ten day volume weighted average price of £1.00 or more the warrant holders following notification have 7 days to confirm a wish to exercise and a further 14 days to pay, otherwise the warrants will be cancelled;
§ Following completion of the above Metal Tiger will own 675,675 shares representing 6.1% of Conroy Gold's issued share capital.
Paul Johnson, Chief Executive Officer of Metal Tiger commented "our investment in Conroy Gold today is an important step for the Company with our first exposure to Irish resource opportunities with a particular emphasis on gold.
The undervaluation of resource companies on AIM continues as demonstrated by Conroy Gold who have identified a substantial mineralised gold system and continue to confirm additional gold targets across their licence portfolio.
With the investment today we are supporting Conroy Gold in their pursuit of progress on the ground and we look forward to hearing of further developments in due course."
Conroy Gold reported a loss of €315,314 for the year ended 31.05.15 and net assets of €15,256,853 as at 30.11.15.
For further information on the Company, visit: www.metaltigerplc.com:
Paul Johnson (Chief Executive Officer)
Tel: +44 (0)7766 465 617
Terry Grammer (Non- Executive Chairman)
Tel: +44 (0)207 099 0738
Spark Advisory Partners Limited
Tel: +44 (0) 2033 683 555
Tel: +44 (0) 1483 413 500
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company's target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger's Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an ISDX or AIM partner with whom the Company is engaged.
Metal Tiger also has an Asset Trading Division that holds various financial instruments for trading purposes including equities, warrants and royalty income. The aim of the division is to generate profits to reinvest into the Company's project based activities.
This information is provided by RNS