REG - Power Metal - Appointment of Non-Executive Director

Power Metal ResourcesAnnouncement

05/05/2023 14:00

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RNS Number : 6254Y  Power Metal Resources PLC  05 May 2023

5 May 2023

Power Metal Resources plc

("Power Metal" or the "Company")

Appointment of Non-Executive Director

Power Metal Resources plc (LON:POW) the London listed exploration company
seeking large-scale metal discoveries across its global project portfolio
announces the appointment of Bill Brodie Good as a Non-executive Director of
the Company with immediate effect.

Bill has over 30 years experience in global exploration and project management
with extensive work in geological and project management in Australia,
Francophone West and Central Africa, the Middle East and Central Asia.

Bill's most recent role was as CEO and Technical Director of AIM listed Alien
Metals in which he made the significant discovery of a DSO Iron Ore resource
amongst other achievements with the company.

Bill's experience has extensively involved the design, planning and
implementation of new and grass roots exploration programmes with an emphasis
on in country logistics planning, government liaison, people management and
project delivery on time and in budget.

In addition to his role as a Non-executive Director, Bill will also provide
consulting services to Power Metal directly at the project level.

Sean Wade, Chief Executive Officer of Power Metal Resources commented:

"I am delighted to welcome Bill to the Power Metal team and very much look
forward to working with him as we seek to continue the development of our
business.

We are very fortunate to have someone with Bill's experience and technical
skills to assist with project development across the Company.

Our business model is based on selective project acquisition, adding value
through exploration and corporate advancement and crystallisation to unlock
the inherent value in our portfolio. Bill's expertise along with that of the
rest of the board and our first class management team will ensure that that
continues to happen."

Regulatory Disclosures:

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to Douglas William
Brodie Good, aged 61:

 

 

 

  Current directorships and/or partnerships:   Former directorships and/or partnerships (within the last five years):

 KBG Consultants Limited                       Alien Metals Limited

                                               Mineral Exploration Services Ltd

                                               SRK Exploration Services Limited

                                               SRK Exploration Services Nominee Company Limited

 

Mr Brodie Good does not hold any shares in Power Metal.

Mr Brodie Good has confirmed there is no further information to be disclosed
pursuant to paragraph (g) of Schedule 2 of the AIM rules.

As part of Mr Brodie Good's employment contract Mr Brodie Good has been
issued with Power Metal share options, namely, 5 million options to subscribe
for new Power Metal ordinary shares of 0.1p each at an exercise price of 3.25
pence with a life to expiry of 3 years from today (the "Director Options").
The Director Options are subject to a minimum service period of 6 months and
may not be exercised until the volume weighted average price of Power Metal
shares trades at 5.0 pence for ten consecutive trading days.

PDMR Disclosure

 

The notifications below, made in accordance with the requirements of the EU
Market Abuse Regulation, provide further detail on the director's share
dealing.

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name

                                                                   Bill Brodie Good

 2    Reason for the notification

 a)   Position/status

                                                                   Non-executive Director

 b)   Initial notification /Amendment

                                                                   Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name

                                                                   Power Metal Resources Plc

 b)   LEI

                                                                   213800VNXOUPHTX53686

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  ordinary shares of 0.1p each

      Identification code                                          ISIN: GB00BYWJZ743

 b)   Nature of the transaction

                                                                   Issue of Options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     3.25p             5,000,000

 d)   Aggregated information

      - Aggregated volume                                          5,000,000

      - Price                                                      3.25p

 e)   Date of the transaction                                      5 May 2023

 f)   Place of the transaction                                     Off Market

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

For further information please visit https://www.powermetalresources.com/
(https://www.powermetalresources.com/) or contact:

 Power Metal Resources plc
 Sean Wade (Chief Executive Officer)                                             +44 (0) 7766 465 617

 SP Angel Corporate Finance (Nomad and Joint Broker)
 Ewan Leggat/Charlie Bouverat                                                    +44 (0) 20 3470 0470

 SI Capital Limited (Joint Broker)
 Nick Emerson                                                                    +44 (0) 1483 413 500

 First Equity Limited (Joint Broker)
 David Cockbill/Jason Robertson                                                  +44 (0) 20 7330 1883

 

NOTES TO EDITORS

Power Metal Resources plc - Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration
company which finances and manages global resource projects and is seeking
large scale metal discoveries.

 

The Company has a principal focus on opportunities offering district scale
potential across a global portfolio including precious, base and strategic
metal exploration in North America, Africa and Australia.

 

Project interests range from early-stage greenfield exploration to later-stage
prospects currently subject to drill programmes.

 

Power Metal will develop projects internally or through strategic joint
ventures until a project becomes ready for disposal through outright sale or
separate listing on a recognised stock exchange thereby crystallising the
value generated from our internal exploration and development work.

 

Value generated through disposals will be deployed internally to drive the
Company's growth or may be returned to shareholders through share buy backs,
dividends or in-specie distributions of assets.

 

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