REG - Power Metal Res. - Uranium Energy Exploration Update

Power Metal ResourcesAnnouncement

25/03/2024 07:00

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RNS Number : 0571I  Power Metal Resources PLC  25 March 2024

25 March 2024

Power Metal Resources PLC

("Power Metal" or the "Company")

Uranium Energy Exploration ("UEE") Update

Power Metal Resources PLC (AIM:POW), the London listed exploration company
with a global project portfolio is pleased to provide an update on the planned
IPO of a number of its uranium interests using Uranium Energy Exploration plc
(UEE) as a vehicle to achieve an admission to AIM.

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

"The marketing process for the planned IPO of UEE continues to attract
significant interest from a range of investors, including institutional
investors, HNWs and retail investors in the UK and elsewhere, including a
potential cornerstone investor.

However, a number of significant potential strategic investors have indicated
their preference for alternative deal structures which may include a different
combination of assets, or an enlarged asset set with an enhanced business
model.

The Board of Power Metal is therefore considering, from its point of view, all
options and will revert in due course on the progress of those discussions and
how this would affect the proposed IPO of UEE  both in terms of timing and
structure."

Shareholders should note that there can be no certainty that any transaction
will be completed with POW's uranium interests.

 

Shareholders should also note that Sean Wade is a director of both Power Metal
and UEE.

 

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) 20 3778 1396

 SP Angel Corporate Finance (Nomad and Joint Broker)
 Ewan Leggat/Caroline Rowe/Harry Davies-Ball                                    +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

 BlytheRay (PR Advisors)

 Tim Blythe/Megan Ray                                                           +44 (0) 20 7138 3204

 

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

 

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