viewMetal Tiger PLC

Southern Gold A$4 Million Revised Fundraise


23 March 2020

Metal Tiger plc

("Metal Tiger" or the "Company")

Southern Gold - Revised FundraiseA$4 Million

(AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, notes that, further to its announcements of 10 and regarding the Company’s participation in a conditional share placement by ASX-listed, Southern Gold Limited (“Southern Gold”), Southern Gold has withdrawn the placement owing to market conditions.Metal Tiger plc11 February 2020A$10 million

Southern Gold has instead offered an alternative opportunity for a subscription of, in aggregate, 40,000,000 Southern Gold shares at 10c per share, to raise before costs, to be settled in two tranches (the “Revised Fundraise”). Metal Tiger has participated in the Revised Fundraise through a subscription for, in aggregate, 22,000,000 shares at a total cost of .A$4 millionA$2.2 million

The second tranche of the Revised Fundraise, equating to , is conditional upon Southern Gold shareholder approval at a duly convened general meeting (expected to be held in early May) (“Approval”). On completion of the first tranche, which will occur shortly, Metal Tiger will receive 5,020,002 new ordinary shares in Southern Gold. Subject to Approval, Metal Tiger will receive a further 16,979,998 new ordinary shares in Southern Gold pursuant to the second tranche.A$1,831,999.80 million

Following completion of the Revised Fundraise, Metal Tiger will hold a 17.1% interest in Southern Gold. In addition, Metal Tiger will retain the right to nominate one director to the board of Southern Gold for so long as it holds an interest in the company of at least 10%. Under this provision, Metal -Executive Director, Mr , has been nominated and will join the Southern Gold board following Approval.Tiger NonTerry Grammer

The board of Southern Gold has committed to hold, within 3 months of completion of the Revised Fundraise, a strategic review session which will be attended by members of the board (including and ) as well as senior management.Terry GrammerDouglas Kirwin

Assuming completion of the Revised Fundraise, Southern Gold will have a cash balance of , which is expected to support diamond drilling of multiple targets over a minimum 12-month period.A$5.5 million

Southern Gold’s announcement can be accessed via the following hyperlink:


For the year ended , Southern Gold reported a loss before tax of . As at , Southern Gold reported net assets of .30 June 201931 December 2019A$10.1 millionA$8.6 million

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

“We are delighted to have cornerstoned this revised placing; the fact that Southern Gold has been able to restructure the fundraise in such challenging markets is a testament to the quality of the Southern Gold team and its assets. In addition, our participation in the fundraise demonstrates our continued ability to seek and finance opportunities globally and across commodities in uncertain markets. We believe that Southern Gold’s drilling campaign, which will include significant news flow over a 12-month period, is a high-impact opportunity and is another example of our Board identifying unique opportunities in order to drive shareholder value.

“We look forward to progress being achieved and to updating shareholders on further developments across our portfolio in the near future.”

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


Notes to Editors:

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.Metal Tiger plc

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: and Direct Projects.Direct Equities

invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 3.69% interest in (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 in the Direct Projects Division.The Direct Equities DivisionSandfire Resources NL

is focused on the development of its key project interests in , Kalahari copper/silver belt through its interest in . In , Metal Tiger has interests in two potentially near-production stage lead/zinc/silver mines as well as license applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.The Direct Projects DivisionBotswanaThailandKalahari 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.

Metal Tiger plc

Source:Metal Tiger plc

Michael McNeilly

(Chief Executive Officer)

Tel: +44 (0)20 7099 0738

Mark Potter

(Chief Investment Officer)


Richard Tulloch

James Dance

Jack Botros

Strand (Nominated Adviser)Hanson Limited

Tel +44 (0)20 7409 3494

Paul Shackleton

Steve Douglas

Arden Partners plc (Broker)

Tel: +44 (0)20 7614 5900

Gordon Poole

James Crothers

Monique Perks

Camarco (Financial PR)

Tel: +44 (0)20 3757 4980

Quick facts: Metal Tiger PLC

Price: -

Market: AIM
Market Cap: -

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