REG - Power Metal - Former Director Exercise of Warrants

Power Metal ResourcesAnnouncement

23/05/2023 09:00

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RNS Number : 3376A  Power Metal Resources PLC  23 May 2023

23 May 2023

Power Metal Resources PLC

("Power Metal" or the "Company")

Former Director 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 an exercise of warrants.

Warrant Exercise

The Company has received a notice to exercise warrants from former director
Paul Johnson over 6,250,000 new ordinary shares of 0.1 pence each in the
Company ("Warrant Shares") at an exercise price of 0.7p per Warrant Share and
raising an additional £43,750 for the Company.

As a result of this exercise Paul Johnson and Michelle Johnson will hold
82,250,000 Power Metal shares equating to 3.98% of issued share capital.

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 26 May 2023
("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 2,064,671,913 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
 Sean Wade (Chief Executive Officer)                                             +44 (0) 20 3778 1396

 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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