Power Metal Resources PLC Exercise of Warrants (8766S)
19 July 2022 - 02:25AM
UK Regulatory
TIDMPOW
RNS Number : 8766S
Power Metal Resources PLC
18 July 2022
18 July 2022
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 an exercise of warrants.
Warrant Exercise
The Company has received a notice to exercise warrants over
4,631,515 new ordinary shares of 0.1 pence each in the Company
("Warrant Shares") at an exercise price of 0.75p per Warrant Share
and raising an additional GBP34,736 for the Company.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 4,631,515 Warrant Shares to be
admitted to trading on AIM which is expected to occur on or around
25 July 2022 ("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 1,502,733,450 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/ 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.
Exploration Work Overview
Power Metal has internal exploration programmes completed or
underway, with results awaited, as outlined in the table below.
Exploration work programmes may also be underway within planned
IPO vehicles where Power Metal has a material interest the findings
from which will be released on their respective websites, with
simultaneous updates through Power Metal regulatory announcements
where required:
www.firstclassmetalsplc.com
www.goldenmetalresources.com
www.firstdevelopmentresources.com
Power Metal also holds a material investment in Kavango
Resources plc with exploration updates available through their
regulatory announcements and on their website:
www.kavangoresources.com
Project Location Current Work Completed Results Awaited
POW or Underway
%
Alamo USA Earn-in Technical reports Analysis of technical
Gold Project to 75% received following reports and potential
excavation of follow-on work programme
multiple test under review.
pits and mapping
& sampling completed.
---------- --------- ----------------------- --------------------------------
Athabasca Canada 100% Hyperspectral Finalise review of data
Uranium data analysis from 3 properties. Prepare
conducted across for summer exploration
all 7 properties. programme across 4 properties.
Updating to 7
data rooms for
third party review.
---------- --------- ----------------------- --------------------------------
Authier Canada Earn-in Property Evaluation Update covering exploration
North to 100% Report completed. plans for target areas
Lithium identified during the
Evaluation.
---------- --------- ----------------------- --------------------------------
Molopo Botswana 53%(#) Comprehensive Finalise next exploration
Farms data review complete steps and action plan.
and establishment
of data room
for third party
review.
---------- --------- ----------------------- --------------------------------
Tati Botswana 100% Site visit with Exploration planning
Project mapping of gold underway including further
workings and mapping, sampling and
mine dumps. launch of an RC drill
programme.
---------- --------- ----------------------- --------------------------------
Victoria Australia 49.9% Diamond drill Final drill programme
Goldfields programme completed. results analysis and
Review of Ajax resource potential analysis
& Berringa mine from former high-grade
remaining resource producing mines in granted
potential. licences.
---------- --------- ----------------------- --------------------------------
(#) subject to completion of acquisition announced 18.5.22
interest will increase to 87.71%
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