23rd Apr 2015 08:06
LONDON (Alliance News) - Metal Tiger PLC Thursday said it has raised GBP175,000 after conducting a placing and subscription which will enable the company to expand its investing activities.
The company said although it has ample working capital, it was approached by a group of investors, and Metal Tiger said it was "beneficial" to add them to share register and allow them to accelerate its existing plans.
The company raised the funds by issuing just under 20.0 million shares at a price of 0.875 pence per share. Each issued share came with one warrant to subscribe for an additional share in the company at an exercise price of 1.75 pence per share.
Metal Tiger shares were up 2.6% to 0.923 pence per share on Thursday morning.
"Additional funds enable a further expansion of the company's investing activities, including an acceleration of direct project ground operations," said the company.
By Joshua Warner; [email protected]; @JoshAlliance
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