Metal Tiger plc UK Regulatory Announcement: Armada Metals Limited – Commencement of Trading on ASX
LONDON–(BUSINESS WIRE)–
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Armada Metals Limited – Commencement of Trading on ASX
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to announce the announcement made by Armada Metals Limited (“Armada”), regarding the commencement of trading on the Australian Securities Exchange (“ASX”) today, following a successful, oversubscribed Public Offer which raised the maximum targeted amount of A$10 million at A$0.20 per share.
Metal Tiger currently holds 10,000,000 fully paid ordinary shares in Armada (“Armada Shares), having previously invested US$750,000 in the pre-IPO investment round (the “Pre-IPO”), as announced on 19 March 2021 and following various restructurings which are noted in the Prospectus. Following completion of Armada’s IPO, Metal Tiger now holds 15,000,000 Armada Shares, representing approximately 14.42% of Armada’s enlarged share capital. In addition, Metal Tiger currently holds 3,333,333 options over Armada Shares, exercisable at a price of $A0.334 with a 5-year validity after admission of the company to the official list of the ASX.
A link to Armada’s full release is set out below:
Further information on Armada can be found on their website: https://armadametals.com.au
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
| Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 |
| Mark Potter | (Chief Investment Officer) |
|
| James Dance Robert Collins | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
| Paul Shackleton Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 |
| Gordon Poole James Crothers Rebecca Waterworth | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market (“AIM”) and the ASX Market of the Australian Securities Exchange Market (“ASX”) with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company’s target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Equity Investments and Project Investments.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.
Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.
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Metal Tiger plc
