26th Apr 2016 11:09
LONDON (Alliance News) - Natural resources sector investor Metal Tiger PLC on Tuesday said it has raised GBP1.0 million through a share subscription and strategic placing.
The company has placed 22.2 million shares at 4.5 pence per share to raise the funds. A further 22.2 million warrants have been issued under the subscription, exercisable at 9.0p per Metal Tiger share.
Metal Tiger shares were down 1.6% to 4.65p Tuesday.
The funds will be used to boost Metal Tiger's underlying working capital for its projects in Botswana, Thailand, Spain and for a number of new investment opportunities which have been identified.
"With this extra capital adding to an already significant working capital position, Metal Tiger goes from strength to strength as it focuses on its key assets in Botswana and Thailand," said Paul Johnson, Metal Tiger's chief executive.
"Moreover we have also identified a number of new opportunities that deserve attention and are in line with our stated policy of focussing on our key metal projects activities and generating additional working capital through investments made by our asset trading division," he added.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
MTR.L