31st Jan 2017 09:41
Metal Tiger Plc
31 January 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Exercise of Warrants
Metal Tiger (LON: MTR), the natural resources investing company is pleased to announce that further to generating a profit of £277,000 from the sale of 113 million GGP shares at an average price of 0.3147p, it has sent notification to GGP to exercise 50 million warrants at 0.02p per warrant for 50m new ordinary shares in GGP at a total cost of £100,000. Following the exercise of the 50 million warrants MTR will hold 87 million shares in GGP representing 5.174% of the enlarged shareholding of GGP.
Michael McNeilly, Chief Executive Officer, commented: “Metal Tiger is pleased to have realised a significant profit from the sale of its GGP stock. However, Metal Tiger is encouraged by the various work programs underway at GGP that could generate further value accretion and as such Metal Tiger is happy to support GGP by exercising its warrants to provide further cash to GGP and additional exposure for Metal Tiger. GGP and Metal Tiger will continue to explore collaboration opportunities as part of the New Venture Collaboration announced on 10 November 2016.”
For further information on the Company, visit: www.metaltigerplc.com:
| Michael McNeilly(Chief Executive Officer) | Tel: +44(0)20 7099 0738 | ||||
| Keith Springall (Finance Director & Company Secretary) | Tel: +44 (0)207099 0738 | ||||
| Sean Wyndham-Quin Neil Baldwin | Spark Advisory Partners Limited (Nominated Adviser) | Tel: +44 (0) 2033 683 555
www.sparkadvisorypartners.com | |||
| Nick Emerson Andy Thacker | SI Capital (Joint Broker) | Tel: +44 (0)1483 413 500 | |||
| Andrew Monk Andrew Raca | VSA Capital Limited (Joint Broker) | Tel: +44 (0)20 3005 5000 | |||
| Gordon Poole James Crothers | Camarco (Financial PR) | Tel: +44 (0)203 757 4980 |
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 AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170131005568/en/
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Related Shares:
MTR.L