3rd Sep 2020 21:38
Metal Tiger PLC - investor in natural resource opportunities - Participates in Southern Gold Ltd's oversubscribed AUD10.2 million, about GBP5.6 million, equity fundraising. Southern Gold intends to utilise the net proceeds of the fundraise to execute multiple drilling campaigns on multiple targets in its growing gold-silver project portfolio in South Korea over the next two years. As part of the fundraise, Metal Tiger has conditionally subscribed for 14.6 million new Southern Gold shares at a price of AUD0.12 per share for a total consideration of AUD1.7 million. In addition, as part of the subscription, Metal Tiger will be issued with 7.3 million two-year warrants with an exercise price of AUD0.18 per warrant. Following the transaction, Metal Tiger will be interested in 36.6 million Southern Gold shares, maintaining its existing equity interest of 17%.
Current stock price: 28.00 pence
Year-to-date change: more than doubled
By Evelina Grecenko; [email protected]
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