Brief: Power Minerals Executes Binding Agreement For Funding And Development Of Rincon Project

Power Minerals

17/05/2024 02:26

May 17 (Reuters) - Power Minerals Ltd  PNN.AX :
    * POWER EXECUTES BINDING AGREEMENT FOR FUNDING AND
DEVELOPMENT OF
RINCON PROJECT
    * BINDING TERM SHEET AND CONVERTIBLE LOAN AGREEMENT FOR
STRATEGIC
FUNDING AND DEVELOPMENT OF RINCON PROJECT
    * UNDER BINDING TERM SHEET & CONVERTIBLE LOAN AGREEMENT, CO
TO
RECEIVE INITIAL STRATEGIC FUNDING OF US$5M
    * REPENERGY INVESTMENT PRIVATE RESPONSIBLE FOR PROCUREMENT
OF
FINANCING FOR RINCON JV
    * ON ESTABLISHMENT OF RINCON JV, CO TO TRANSFER RINCON
PROJECT TO
RINCON JV AND HOLD 41% INTEREST IN JV
    * LI ENERGY TECHNOLOGY WILL HOLD 59% INTEREST IN JV ON
ESTABLISHMENT

Further company coverage:  PNN.AX 

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