METAL TIGER PLC: Investment in Trident Royalties
March 19 2021 - 7:33AM
UK Regulatory
TIDMMTR
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 GBP161,175 (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 GBP20.7 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:
https://www.londonstockexchange.com/news-article/TRR/lithium-royalty-acquisition-fundraising-of-ps20m/14906109
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 Strand Hanson Limited Tel +44 (0)20 7409 3494
Jack Botros (Nominated Adviser)
Georgia Langoulant
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210319005283/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2021
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