Loan to Metal Tiger

RNS Number : 5297M

Paternoster Resources PLC

16 July 2014

 



Paternoster Resources plc

("Paternoster" or the "Company")

Announcement by Metal Tiger plc

As announced earlier today by Metal Tiger plc ("Metal Tiger"), Paternoster has today entered into an agreement with Metal Tiger in relation to the loan from Paternoster to Metal Tiger, a company formerly called Brady Exploration plc (the "Loan"). Paternoster and Metal Tiger have agreed to settle £50,000 of the Loan through the issuance of 10,000,000 new Metal Tiger ordinary shares at 0.5p per share to Paternoster with the balance of the Loan, plus accrued interest, being settled through the payment of £17,315.07 in cash to Paternoster.

Nicholas Lee, Chairman of Paternoster, said:

"We are pleased to have been given the opportunity to convert the majority of our loan to Metal Tiger into new shares in the company.  It is encouraging to see that they are already trading ahead of the conversion price.  We are confident that Metal Tiger will be able to access some interesting investment opportunities going forward."

For more information please contact:

Paternoster Resources plc:
Nicholas Lee, Chairman	[phone]

Nominated Advisor and Joint Broker:
Westhouse Securities
Antonio Bossi	[phone]

Joint Broker:
Peterhouse Capital Limited
Lucy Williams	[phone]

 

END

 

 

AGRZQLFFZDFZBBB