Tiger Resources has reached an agreement with Ambrian Partners to raise almost $22 million through the private placement of shares.
Tiger Resources has reached an agreement with Ambrian Partners to raise almost $22 million through the private placement of shares.
Tiger Resources will issue 121.4 million shares to Ambrian Partners at $0.18 per share.
In a statement, the company said the agreement secured the funding required, together with the US$15 million debt facility from Trafigura Beheer B.V., to bring the US$30 million stage 1 copper mining operation at Kipoi into production.
Tiger Resources said the financing keeps the company's objective of being a copper producer by the end of this year on track.