Sprott Private Placement Closes raising £4.85m

LONDON--(BUSINESS WIRE)--

Metal Tiger Plc

("Metal Tiger" or the "Company")

Sprott Private Placement Closes raising £4.85m

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that, further to the announcements on 29 March and 18 April 2017, it has closed its private placement offering, run by Sprott Capital Partners (“Sprott”), raising a total of £4,390,000 through Sprott and a further £460,000 through a placing and subscription of shares in the Company.

This represents the largest fundraise by the Company to date.

Highlights:

• Placing of 161,666,666 new ordinary shares in Metal Tiger at a placing price of 3p per ordinary share (the “Placing Shares”) raising gross proceeds of £4,850,000.
• Issue of 161,666,666 warrants to subscribe for 1,666,666 new ordinary shares in Metal Tiger at an exercise price of 6p per warrant, within a 5 year exercise period.
• Sprott to receive 4,850,000 Finder Warrants equal to3.0% of shares issued under the Placing. Each Finder Warrant permits the purchase of one Warrant Share for five years from the Closing Date at a price of £0.03 per unit. Upon exercise of a Finder Warrant, Sprott will be entitled on a 1 for 1 basis to a 6p warrant with a 5 year validity. In the event that Sprott exercised all of its 3p warrants it would be entitled to a further 4,850,000 warrants at 6p with a 5 year validity.
• Placing taken place at a circa 9% premium to the previous day closing price.
• Placing includes UK and international investors, with £460,000 coming from the UK with the international funds coming primarily from institutional investors.
• Largest fund raise to date for Metal Tiger providing funds for the Company to advance its interests across its mining portfolio of assets in particular T3 in Botswana where Metal Tiger has a JV with MOD Resources, and an economic interest of 30% in the T3 project.

Michael McNeilly Chief Executive Officer of Metal Tiger commented:

“This is a significant moment for the Company raising £4.85m with the majority coming from institutional investors. The level of institutional support has been extremely satisfying and is demonstrable of the maturity and evolving nature of the business since the beginning of the financial year.

Metal Tiger is now well positioned to advance its main direct project interests, in particular matching its important 30% contribution toward the JV in Botswana both in regards to further exploration and to the T3 project as it moves up the development curve through PFS, DFS and ultimately to a decision to mine. This raise also gives Metal Tiger greater comfort with regard to the spin out of its Thai assets.

On behalf of the Board I thank all our existing and new shareholders for their support and we look forward to updating them further as we deliver material value.”

The Placing Shares are expected to be admitted to trading on or around 27 April 2017. Following the issue of the 161,666,666 Placing Shares, the number of ordinary shares in issue in the Company will increase to 955,541,843 ordinary shares with one voting right each. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of Metal Tiger following this allotment consists of 955,541,843 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Metal Tiger under the DTRs.

For further information on the Company, visit: www.metaltigerplc.com:

Michael McNeilly(Chief Executive Officer)		Tel: [phone]
Keith Springall (Finance Director & Company Secretary)		Tel: [phone]
Sean Wyndham-Quin Neil Baldwin	Spark Advisory Partners Limited (Nominated Adviser)	Tel: [phone]   www.sparkadvisorypartners.com
Nick Emerson Andy Thacker	SI Capital (Joint Broker)	Tel: [phone]
Andrew Monk Andrew Raca	VSA Capital Limited (Joint Broker)	Tel: [phone]
Gordon Poole James Crothers	Camarco (Financial PR)	Tel: [phone]

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 Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over 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.

Category Code: MSCH

Sequence Number: 582073

Time of Receipt (offset from UTC): 20170421T074303+0100