Metal Tiger plc UK Regulatory Announcement: Investment in Trident Royalties
LONDON–(BUSINESS WIRE)–
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Investment in Trident Royalties
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has conditionally subscribed for 474,043 new ordinary shares of 1 pence each (“Trident Shares”) in Trident Royalties PLC (“Trident”) (LSE:TRR) at a price of 34 pence per share, for a total investment of £161,175 (US$225,000) (the “Investment”). The Investment is a follow-on to an existing investment in Trident.
The Investment forms part of a placing of, and subscription for, new Trident Shares raising approximately £20.7 million (approximately US$28.9 million) (the “Placing”) to finance the acquisition of a 60% interest in an existing gross revenue royalty over the Thacker Pass Lithium Project operated by Lithium Americas Corp (NYE: TSX: LAC). The Placing is conditional on, inter alia, admission of the new Trident Shares to trading on AIM.
Trident is a growth-focused, diversified mining royalty and streaming company, aiming to provide investors with exposure to a mix of base and precious metals, bulk materials (excluding thermal coal) and battery metals.
Metal Tiger will hold 1,034,043 shares of Trident on completion of the Placing, representing approximately 0.61% of Trident’s issued share capital.
Trident’s announcement relating to the Placing can be found at the following link:
Mark Potter, Director and Chief Investment Officer of Metal Tiger, is an independent Non-Executive Director of Trident.
For the interim six month period ended 30 June 2020, Trident reported net assets of US$22.4m and a net loss of US$1.2m.
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
| Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 |
| Mark Potter | (Chief Investment Officer) |
|
| James Dance Jack Botros Georgia Langoulant | 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 Hugo Liddy | 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”) 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
