Investment in Artemis Resources

LONDON--()-- 

12 May 2021

Metal Tiger plc

("Metal Tiger" or the "Company")

Investment in Artemis Resources

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 5,000,000 new ordinary shares in Artemis Resources Limited (ASX:ARV) (“Artemis”) at an issue price of A$0.10 per share for a total consideration of approximately A$500,000 (c.£279,293).

The investment forms part of a capital raise by Artemis of A$10 million. The placement was met with strong demand from institutional investors.

The use of the proceeds from the capital raising will be to fund exploration drilling at the Paterson and Carlow Castle gold-copper projects in the Pilbara, Western Australia, as well as for general working capital purposes.

Following completion of the fundraise, Metal Tiger will hold 6,357,305 shares in Artemis which will represent approximately 0.5% of the enlarged share capital following the fundraise.

Mark Potter, Director and Chief Investment Officer of Metal Tiger, is Non Executive Chairman of Artemis Resources.

For the interim six month period ended 31 December 2020, Artemis reported net assets of A$57,062,746 and a net loss of A$4,270,300.

Copies of the Artemis press release can be found at the link below:

Artemis completes $10m capital raise to accelerate Carlow Castle and Paterson Central drilling campaigns:

https://artemisresources.com.au/investors/#asx-announcements

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

Enquiries:

Michael McNeilly

 

(Chief Executive Officer)

 

Tel: +44 (0)20 3287 5349

 

Mark Potter

 

(Chief Investment Officer)

 

 

 

James Dance

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.

Category Code: MSCL
Sequence Number: 737111
Time of Receipt (offset from UTC): 20210511T205931+0100

Contacts

Metal Tiger plc

Contacts

Metal Tiger plc