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Tiger’s $715,725 rights issue

BALCATTA-BASED mineral explorer, Tiger Resources Ltd, aims to raise $715,725 through a non-renounceable rights issue to fund exploration of the company’s tenements in the Democratic Republic of Congo. The 71.5 million options, distributed on a basis of one option at one cent for every two shares held, will be exercisable at 45 cents each on or before March 31 2008. Tiger raised $6 million in July through private placements for exploration funding and working capital, which is a sufficient amount for the company to carry out its planned exploration. Blakiston & Crabb are serving as solicitors to the issue, which is not underwritten. The issue will open on October 6 and close on October 20.

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