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Tiger Royalties and Investments set to receive Bezant shares as settlement of loans made to Metrock following acquisition
StockMarketWire.com
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Resource-focused investment fund Tiger Royalties and Investments said that now the acquisition of Metrock Resources by Bezant Resources has completed, it is due to receive 28,314,815 Bezant shares on 18 February 2021 as settlement of outstanding loans of £46,250 which it has made to Metrock and the £30,200 fee due from Metrock.
The company said that upon issue of the new shares its total shareholding in Bezant will increase to 83,870,371 shares, representing 2.2% of Bezant's enlarged issued share capital on completion.
Tiger reported that it is also entitled to a net smelter return (NSR) of 2% on the Kanye Manganese asset, and that this may be purchased by Bezant for a payment of £1 million or on a partial basis at a buy-out rate of £250,000 per 0.5% of the NSR.
At 9:01am: (LON:TIR) Tiger Resource Finance Plc share price was 0p at 0.25p
Story provided by StockMarketWire.com
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