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 7,142,857 new ordinary shares in Artemis Resources Limited (“Artemis”) (the “Artemis Shares”) at a price of A$0.07 per share for an investment cost of A$500,000 (the “Investment”).
The Investment forms part of Artemis’ A$5.6 million fundraise (the “Fundraise”) announced earlier today, further details of which can be found via the following link: www.artemisresources.com.au/investors-relations/announcements
On completion of the Fundraise, Metal Tiger will be interested in 7,142,857 Artemis Shares, representing approximately 0.6% of Artemis’s then enlarged issued share capital.
Artemis is an ASX-listed (ASX:ARV) natural resource exploration and development company with a current focus on the Paterson and Carlow Castle gold projects in Western Australia. Mark Potter, Director and Chief Investment Officer of Metal Tiger, is Non-Executive Chairman of Artemis. For the half year ended 31 December 2019, Artemis reported net assets of A$54,173,585 and a net loss of A$8,051,108.
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
“We are pleased to make this investment in Artemis as it progresses its aggressive exploration plans at Paterson and Carlow Castle. Following Metal Tiger’s successful investment in Greatland Gold in 2019, after the discovery of Havieron at Paterson, the Investment provides Metal Tiger with the opportunity to potentially benefit from further new gold discoveries in the highly prospective Paterson region of Western Australia. In addition, Artemis has a pre-existing gold-copper-cobalt resource at Carlow Castle and the Radio Hill processing plant, which has the potential to become a standalone mining operation in the future.”
This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) (“MAR”).
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