Metal Tiger Raises Stake In MOD Resources To 5.9% After Placing (ALLISS)

12th Mar 2018 12:10

LONDON (Alliance News) - Natural resources investor Metal Tiger PLC said Monday it invested a further GBP611,000 in joint venture partner MOD Resources Ltd.

Metal Tiger purchased 15.0 million shares in MOD Resources at AUD0.047 each through a discounted placing, worth AUD705,000. Metal Tiger also took up its full 7.9 million share entitlement under MOD's 16 for 1 rights issue. The rights issue also was priced at AUD0.047 costing AUD370,713 in total.

Through the placing and rights issue, Metal Tiger invested a further AUD1.1 million or GBP611,000 into Sydney-listed MOD.

After the transaction, Metal Tiger holds 126.2 million shares or a 5.9% stake in MOD. Metal Tiger also holds 1.54 billion warrants exercisable until April 2019.

Following this purchase Metal Tiger now holds a 5.8% stake in MOD Resources.

Shares in Metal Tiger were 1.9% lower at 2.01 pence on Monday.

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