Additional Strategic Investment - Thor Mining
Metal Tiger Plc
1 September 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
ADDITIONAL STRATEGIC INVESTMENT – THOR MINING
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce a strategic investment totaling £100,000 in Thor Mining plc (“Thor Mining”)(AIM:THR).
- Investment of £100,000 to acquire 400,000,000 Thor Mining shares at 0.025p;
- Metal Tiger to receive one warrant at 0.05p for each Thor Mining share purchased at 0.025p in the placing (being 400,000,000 warrants in total), with a warrant life of 30 months;
- Following completion of the above Metal Tiger will own 860,000,000 shares representing 14.01% of Thor Mining’s issued share capital;
- Board reorganisation to be implemented at Thor Mining;
- Paul Johnson, Chief Executive Officer of Metal Tiger to join the board of Thor Mining as a non-executive director.
Paul Johnson, Chief Executive Officer of Metal Tiger commented “I am pleased to announce this additional strategic investment in Thor Mining which is made to support the Company as it accelerates its activities at the Molyhil project and seeks to build on its existing business interests at this early stage in the recovery of the natural resource sector.
By joining the board I also have the opportunity to contribute to board decision making and to assist the company as it seeks to broaden market awareness of its activities and build on its existing business model.”
Thor Mining reported an audited loss of £915,000 for the year ended 30.06.15 and unaudited net assets of £8,992,000 as at 31.12.15.
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.
Copyright Business Wire 2016