LONDON--(BUSINESS WIRE)--
27 August 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Sable Resources Ltd. (TSXV:SAE)
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 2,333,333 units in Sable Resources Ltd. (“Sable”), at a price of C$0.15 per unit, for a total investment of C$350,000 (approximately £202,000) as part of Sable’s fundraise of up to C$9.0 million announced on 17 August 2020 (the “Fundraise”). Each unit consists of one common share in Sable and one-half of one common share purchase warrant exercisable at a price of C$0.20 for a period of 36 months following the closing date of the Fundraise (being 10 September 2020). Following completion of the Fundraise, Metal Tiger will hold 2,333,333 shares in Sable, representing approximately 1.05% of Sable’s then issued share capital.
Sable is a TSXV listed precious and base metals explorer in Latin America with 1.2m hectare land package. Sable has projects in Mexico (Margarita & Vinata Projects, El Escarpe Project), Argentina (El Fierro Project and Don Julio Cluster), and Peru (Scorpius Project). The main project of interest is the El Fierro Project in San Juan, Argentina, where historical assays demonstrate high grade silver. For the year ending 31 December 2019, Sable reported a net loss of C$3.54m. As at 31 March 2020, Sable reported net assets of C$7.85m.
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) | | |
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| Richard Tulloch | | Strand Hanson Limited (Nominated Adviser) | | Tel: +44 (0)20 7409 3494 |
| James Dance | | | | |
| Jack Botros | | | | |
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| Paul Shackleton | | Arden Partners plc (Broker) | | Tel: +44 (0)20 7614 5900 |
| Steve Douglas | | | | |
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| 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.
Short Name: Metal Tiger plc
Category Code: MSCL
Sequence Number: 708488
Time of Receipt (offset from UTC): 20200826T223846+0100