For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211201:nRSA2901Ua&default-theme=true
RNS Number : 2901U Power Metal Resources PLC 01 December 2021
1 December 2021
Power Metal Resources plc ("Power Metal" or the "Company")
Exercise of Warrants
Power Metal Resources plc (LON:POW) the London listed exploration company
seeking large-scale metal discoveries across its global project portfolio
announces it has received a notice to exercise warrants over 6,250,000 new
ordinary shares of 0.1 pence each in the Company ("Warrant Shares") raising an
additional £43,750 for the Company.
The Warrant Shares are being issued pursuant to the exercise of 6,250,000
warrants at an exercise price of 0.7 pence per ordinary share of 0.1 pence
each in the Company ("Ordinary Share).
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 6,250,000 Warrant Shares to be admitted to
trading on AIM which is expected to occur on or around 8 December 2021
("Admission"). The Warrant Shares will rank pari passu in all respects with
the ordinary shares of the Company currently traded on AIM.
Following Admission, the Company's issued share capital will
comprise 1,349,589,987 ordinary shares of 0.1p each. This number will
represent the total voting rights in the Company and may be used by
shareholders as the denominator for the calculation by which they can
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct Authority's
Disclosure and Transparency Rules.
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.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway, with results
awaited, as outlined below:
Project Location POW % Work Completed or Underway Results Awaited
Alamo Gold Project USA Earn-in to 75% Excavation of multiple test pits and mapping & sampling. Field results from on-site work programme.
Athabasca Uranium Canada 100% Phase I field exploration completed Laboratory assay results of samples collected for uranium and REEs
Authier North Lithium Canada Earn-in to 100% Soil & rock sampling completed Laboratory assay results of samples collected
Ditau Project Botswana 50% Preparatory exploration work underway on target I10 leading to planned Field programme findings and defined drill targets for near term drilling.
accelerated drilling targeting rare-earth elements and base metals
Kalahari Copper Belt Botswana 50% Exploration programme underway across the South Ghanzi Project and further Field programme findings and defined drill targets for near term drilling
exploration at the more recently acquired South Ghanzi Extension and Mamuno
licence areas
Molopo Farms Botswana 53% Kavango Option to acquire an interest in local project holding company. Results from various work activities underway as part of the Kavango Option
Option fee payable through defined work programme
Tati Gold/Nickel Botswana 100% Reverse circulation drill programme completed Laboratory assay results awaited
Victoria Goldfields Australia 49.9% Ongoing exploration across 848km(2) of granted exploration licences Results from field programme including drill targets for near term drilling
Wallal Gold/Copper Project Australia 83.33% Passive seismic and 2D seismic processing work programme completed Results awaited
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IOEUAVBRAOUURAA