Dianne Grammer, wife of Metal Tiger plc (LON:MTR) Terry Grammer, has bought A$250,000 of shares in the natural resources investment company.
Grammer paid 2.75p a share, raising £132,431 for the company. She will also receive warrants to subscribe for up to 4.82mln Metal Tiger shares at an exercise price of 5.5p within the next 18 months.
Metal Tiger shares currently trade at 3.54p, up 19%, or 0.57p, on the day.
The money raised will be used to accelerate company activities.
“This transaction, when combined with recent warrant exercises and the appreciation in the value of our share holding in MOD Resources (ASX:MOD), means the company has now secured circa £1.25 million of additional working capital in the last two weeks, over and above the working capital held previously,” said Paul Johnson, chief executive officer of Metal Tiger.