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Metal Tiger takes 4.23% of Connemara Mining in share placing

The mining investment group purchased 4.8mln Connemara shares which were priced at 4.15p

Ireland
Metal Tiger holds 4.23% of Connemara.

Metal Tiger PLC (LON:MTR) told investors that it had participated in Connemara Mining Company PLC’s (LON:CON) private placing, taking up some of the shares on offer.

It has purchased 4.8mln Connemara shares which were priced at 4.15p each, a modest discount to the current share price of 4.38p, which was down 1.7% on Monday's closing price.

READ: Metal Tiger shelves Thai IPO plans for its joint venture

Metal Tiger also receives the same number of share warrants which would give it the chance to acquire additional shares at an exercise price of 7p per share.

Following the placing, Metal Tiger holds 4.23% of Connemara.

Quick facts: Metal Tiger PLC

Price: 1.328 GBX

AIM:MTR
Market: AIM
Market Cap: £20.39 m
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