REG - Power Metal - Issue of Non-executive Director Options

Power Metal ResourcesAnnouncement

01/04/2022 15:45

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RNS Number : 0243H  Power Metal Resources PLC  01 April 2022

01 April 2022

Power Metal Resources plc

("Power Metal" or the "Company")

Issue of Non-executive Director Options

Power Metal Resources plc (LON:POW), the London listed exploration company
seeking large-scale metal discoveries across its global project portfolio,
announces an issue of Non-executive Director Options ("NED Options").

The NED Options were originally announced by the Company on 4 June 2021, and
this announcement may be viewed through the link below:

https://www.londonstockexchange.com/news-article/POW/company-option-pool-proposed-ned-option-award/15005369
(https://www.londonstockexchange.com/news-article/POW/company-option-pool-proposed-ned-option-award/15005369)
 

The proposed issue of the NED Options was subject to approval of shareholders
at the next available General Meeting, which was the Annual General Meeting
("AGM") held on 30 March 2022.

Following shareholder approval at the AGM, the Company has today issued 5
million NED Options each to Scott Richardson Brown (Interim Non-executive
Chairman) and Edmund Shaw (Non-executive Director). In total 10 million NED
Options have been issued.

Each NED Option carries the right to acquire a new ordinary share in the
Company of 0.1p each. The NED Options carry the following terms:

Exercise Price: 3.25p

Expiry Date:       4 June 2024

Share Price Performance Condition: That the NED Options cannot be exercised
until the volume weighted average share price of the Company has exceeded 5p
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

                                                                   1.    Scott Richardson Brown

 2    Reason for the notification

 a)   Position/status

                                                                   1.    Non-executive Chairman

 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

                                                                   1.    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                                      1 April 2021

 f)   Place of the transaction                                     Off market

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name

                                                                   1.    Edmund Shaw

 2    Reason for the notification

 a)   Position/status

                                                                   1      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

                                                                   1.    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                                      1 April 2022

 f)   Place of the transaction                                     Off market

 

 

 

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 and assay results from on-site work programme.
 Athabasca Uranium      Canada     100%             Data compilation across uranium properties                                       Interpretation results from 2 of 7 properties.
 Authier North Lithium  Canada     Earn-in to 100%  Soil & rock sampling completed                                                   Technical Review of exploration results & define next exploration steps.
 Ditau Project          Botswana   50%              Drill programme focused on key targets notably drilling of potential             Field updates and receipt & review of laboratory assay results.
                                                    carbonatites and targeting rare-earth elements.
 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%              Review of recent exploration findings.                                           Determine next exploration steps and action plan.
 Haneti Project         Tanzania   35%              Diamond drill programme completed                                                Receipt & review of laboratory assay results.
 Victoria Goldfields    Australia  49.9%            Diamond drill programme underway                                                 Field updates and receipt & review of laboratory assay results.

 Paterson Projects      Australia  83.33%           Wallal passive seismic and 2D seismic processing work programme completed.       Findings from multiple work programmes including final approvals and

                                                                                preparations for planned deep diamond drilling.
                                                    Review of historical data and target generation for Ripon Hills & Braeside
                                                    West projects.

 Selta Project          Australia  83.33%           Field reconnaissance work now underway, including mapping and sampling.          Field updates.

 

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