REG - Power Metal - Company Adviser Warrant Pool

Power Metal ResourcesAnnouncement

12/10/2022 15:15

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RNS Number : 6891C  Power Metal Resources PLC  12 October 2022

12 October 2022

Power Metal Resources PLC ("Power Metal" or the "Company")

Company Adviser Warrant Pool

Power Metal Resources PLC (LON:POW) the London listed exploration company
seeking large-scale metal discoveries across its global project
portfolio announces the creation of a Company Adviser Warrant Pool (the
"Adviser Pool") for distribution at the Board's discretion to business
advisers, consultants and in-country teams who are, or may become, key to
business growth and development and have been, or may be, important to the
strategic and financial positioning of the Company.

The Company has a core staff of 11 UK team members, including board
directors.  This team oversees and manages operations across North America,
Africa and Australia.  To do this Power Metal has adopted a 'hub and spoke'
approach management, with the UK team supported by a network of UK advisers
and consultants and operational teams in each country of operations.

With the growth of Power Metal's interests the network of advisors has grown,
and in line with the ethos of the Company, the Board wish to ensure that those
providing valuable support to the Company can share in the exposure to equity
upside.

Reflecting the above Power Metal has today created the Adviser Pool comprising
25m warrants over new ordinary shares of 0.1 pence in the Company ("Ordinary
Shares") in total.

The exercise terms of the new warrants are the same as those created for those
awarded to team members of the Company in 2022, namely, to acquire new
Ordinary Shares at an exercise price of 3.25p per share.

The Adviser Pool Warrants:

-     have a life to expiry ending 12 October 2025, save that should the
volume weighted average share price ("VWAP") of the Company exceed 10.0p for
five consecutive trading days, Power Metal shall have the right to serve a ten
business day notice on the Adviser Pool warrant holders to exercise and pay
for their allocation, or they may be cancelled by the Company.

 

-     are subject to a share price performance condition and cannot be
exercised until the VWAP of the Company has exceeded 5.0p per Ordinary Share
for ten consecutive trading days.

To be clear, Power Metal directors will not receive warrants from this Adviser
Pool, which is designed to incentivise advisers, consultants and others who
are external to the Company.

 

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
 Paul Johnson (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.

 

Exploration Work Overview

 

Power Metal has internal exploration programmes completed or underway, with
results awaited, as outlined in the table below.

 

 Project                Location  Current          Work Completed or Underway                                                     Results Awaited

                                  POW %

 Athabasca Uranium      Canada    100%             Ground exploration programme complete at 3 properties.  Preliminary planning   Assay result from samples collected during fieldwork.
                                                   for work in Spring/Summer 2023 is ongoing.
 Authier North Lithium  Canada    Earn-in to 100%  Property Evaluation Report completed.                                          Update covering exploration plans for target areas identified during the
                                                                                                                                  Evaluation.
 Molopo Farms           Botswana  53%(#)           T1-6 conductor target drilling underway and MLEM surveys over T1-6, T1-14,     Drill programme updates and findings from further MLEM survey work.
                                                   T1-3 and T2-3 completed. Further MLEM surveys planned over additional AEM
                                                   targets identified.
 Tati Project           Botswana  100%             RC drilling and sampling of mine dumps complete.                               Review of mine dumps sampling and results from RC drill programme.

(#) subject to completion of acquisition announced 18.5.22 interest will
increase to 87.71%

 

Exploration work programmes may also be underway within Power Metal investee
companies and planned IPO vehicles where Power Metal has a material interest,
the findings from which will be released on their respective websites, with
simultaneous updates through Power Metal regulatory announcements where
required.

 

These interests are summarised in the table below:

 

 Company                          Status/Operations                                                           Link
 First Class Metals PLC           Investment - POW 27.91%                                                     www.firstclassmetalsplc.com (http://www.firstclassmetalsplc.com)

                                  Exploration in the Schreiber-Hemlo region of Ontario, Canada
 First Development Resources PLC  Planned IPO - POW 62.12%                                                    www.firstdevelopmentresources.com (http://www.firstdevelopmentresources.com)

                                  Exploration in Western Australia and the Northern Territory of Australia
 Golden Metal Resources PLC       Planned IPO - POW 83.13%                                                    www.goldenmetalresources.com (http://www.goldenmetalresources.com)

                                  Exploration and development in Nevada, USA
 Kavango Resources PLC            Investment - POW 14.03% (subject to completion of Kanye Resources disposal  www.kavangoresources.com (http://www.kavangoresources.com)
                                  announced 8.7.22)

                                  Exploration in Botswana
 New Ballarat Gold PLC            Planned IPO - POW 49.9%                                                     A new website is currently in development which will be found at

                                                                           www.newballaratgoldcorp.com (http://www.newballaratgoldcorp.com) .
                                  Exploration in the Victoria Goldfields of Australia

                                                                                                              In the interim further information in respect of NBGC can be found at:

                                                                                                              https://www.powermetalresources.com/project/victoria-goldfields/
                                                                                                              (https://www.powermetalresources.com/project/victoria-goldfields/) .

 Uranium Energy Exploration PLC   Planned IPO - POW on listing estimated 40-55%                               www.uraniumenergyexploration.com (http://www.uraniumenergyexploration.com)

                                  Uranium exploration in the Athabasca region of Canada

 

 

 

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