REG - Paternoster Res.Metal Tiger PLC - Loan to Metal Tiger <Origin Href="QuoteRef">MTRM.L</Origin> <Origin Href="QuoteRef">PRSPA.L</Origin>

Riverfort Global OpportunitiesAnnouncement

06/09/2014 16:44

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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      +44 20 7580 7576  
 
 
 Nominated Advisor and Joint Broker:                    
 Westhouse Securities                                   
 Antonio Bossi                        +44 20 7601 6100  
 
 
 Joint Broker:                                 
 Peterhouse Capital Limited                    
 Lucy Williams               +44 20 7562 3351  
 
 
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