Execution of Share Purchase Agreement
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that Cobre Limited (“Cobre”) and the shareholders of Kalahari Metals Limited (“KML”) (the “KML Vendors”) (together the “Parties”) have executed a Share Purchase Agreement (the “SPA”) in respect of the conditional acquisition by Cobre of 51% of the issued share capital of KML (the “Transaction”).
The terms of the SPA are generally consistent with the binding Heads of Agreement previously entered into by the Parties, as announced by Metal Tiger on 24 August 2020, 22 October 2020 and 20 November 2020. Metal Tiger is one of the KML Vendors and currently has a 62.17% equity interest in KML. In addition, Metal Tiger currently holds an 18.79% equity interest in Cobre.