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Metal Tiger RNS Release

Strategic Investment & Agreement – Thor Mining


Strategic Investment & Agreement – Thor Mining

23 January 2018

Metal Tiger Plc

("Metal Tiger" or the "Company")

Strategic Investment & Agreement – Thor Mining

Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce a strategic financing and agreement has been secured with Thor Mining plc (LON/ASX:THR “Thor”). Thor has a highly prospective and exciting portfolio of exploration and development projects across tungsten, copper and lithium.

Highlights:

  • Metal Tiger to invest £300,000 in Thor through a subscription for 10,000,000 new ordinary shares at 3p per share and at a 20% premium to the previous day’s closing share price of Thor on AIM (2.5p on 22 January 2018);
  • Money raised will be applied to the advancement of key Thor projects including Molyhil, Pilot Mountain and Kapunda Copper;
  • For each subscription share Metal Tiger will also receive one warrant to subscribe for one new ordinary share in Thor at 5p per share with a two-year maximum exercise life;
  • Should the share price of Thor exceed a 14p volume weighted average price for 5 consecutive business days, Thor may, at its sole discretion, seek accelerated conversion of the warrants secured by Metal Tiger. In the event that Metal Tiger does not convert upon receipt of this request, Metal Tiger would forfeit its rights to the warrants;
  • Metal Tiger, reflective of the premium price paid for Thor stock, will receive a 90 day right of first refusal to participate in any new joint venture, acquisition or similar transaction undertaken by Thor during this period;
  • The right of first refusal shall not automatically include any current discussions or negotiations with third parties in relation to existing Thor projects held or projects already under review, however Thor may extend an invitation to Metal Tiger to participate should this be considered appropriate to all parties.

Following this issuance, Metal Tiger will be interested in 61,350,000 ordinary shares of Thor which following admission to trading will represent 9.94% of the issued share capital of Thor.

For the year end 30 June 2017 Thor Mining plc reported an audited net loss of £1,283,000 and as at 30 June 2017 had audited net assets of £9,910,000.

Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:

“Metal Tiger is a financially robust and proactive natural resource investing business looking for new opportunities to deploy capital into companies and projects with considerable upside potential. We are delighted to increase our position through this strategic financing.

We consider the size, potential and scalability of Thor’s key projects to be of significant interest and that the current valuation placed on Thor offers considerable upside potential for investors.

We look forward to working with Thor to assess commercialisation opportunities.

Metal Tiger remains highly engaged on its current key projects in Botswana and Thailand and will continue to innovate on the investing arm to bolster its balance sheet with a view to minimise dilution for investors as it funds its 30% joint venture interest in Botswana and covers minimal monthly costs in Thailand whilst progress is awaited on key regulatory matters.”

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)20 7099 0738
Stephen Allen or Bhavesh Patel RFC Ambrian Ltd (Nominated Adviser) Tel +44 (0)20 3440 6800
Jonathan Williams RFC Ambrian Ltd

(Joint Broker)

Tel +44 (0)20 3440 6800
Nick Emerson SI Capital

(Joint Broker)

Tel: +44 (0)1483 413 500
Gordon Poole

James Crothers

Camarco

(Financial PR)

Tel: +44 (0)20 3757 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, the Company has tungsten and gold interests in the highly-mineralised Extremadura region. In Thailand, Metal Tiger has interests in two potentially near-production stage silver/lead/zinc mines as well as 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.

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