Power Metal Resources PLC Exercise of Warrants (4722N)
31 Mai 2022 - 7:08PM
UK Regulatory
TIDMPOW
RNS Number : 4722N
Power Metal Resources PLC
31 May 2022
31 May 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
4,210,526 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 GBP31,579 for the Company.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 4,210,526 Warrant Shares to be
admitted to trading on AIM which is expected to occur on or around
9 June 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 1,476,378,266 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.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway,
with results awaited, as outlined below:
Project Location Current Work Completed Results Awaited
POW % or Underway
Alamo Gold USA Earn-in Excavation of Field and assay results
Project to 75% multiple test from on-site work
pits and mapping programme.
& sampling.
---------- --------- ----------------------- ---------------------------
Athabasca Canada 100% Data compilation Interpretation results
Uranium across uranium from all Properties
properties complete. Next steps
upcoming.
---------- --------- ----------------------- ---------------------------
Authier Canada Earn-in Soil & rock sampling Technical Review
North Lithium to 100% completed of exploration results
& define next exploration
steps.
---------- --------- ----------------------- ---------------------------
Ditau Project Botswana 50% Drill programme Field updates and
focused on key receipt & review
targets notably of laboratory assay
drilling of potential results.
carbonatites
and targeting
rare-earth elements.
---------- --------- ----------------------- ---------------------------
Kalahari Botswana 50% Exploration programme Field programme findings
Copper Belt underway across and defined drill
the South Ghanzi targets for near
Project and further term drilling.
exploration at
the more recently
acquired South
Ghanzi Extension
and Mamuno licence
areas
---------- --------- ----------------------- ---------------------------
Molopo Farms Botswana 53%# Review of recent Determine next exploration
exploration findings. steps and action
plan.
---------- --------- ----------------------- ---------------------------
Victoria Australia 49.9% Diamond drill Field updates and
Goldfields programme completed receipt & review
of laboratory assay
results.
---------- --------- ----------------------- ---------------------------
Paterson Australia 82.78% Wallal passive Findings from multiple
Projects seismic and 2D work programmes including
seismic processing final approvals and
work programme preparations for
completed. planned deep diamond
Review of historical drilling.
data and target
generation for
Ripon Hills &
Braeside West
projects.
---------- --------- ----------------------- ---------------------------
Selta Project Australia 82.78% Field reconnaissance Finalising data review
work complete, from field programmes.
which included
mapping and sampling.
---------- --------- ----------------------- ---------------------------
# Increasing to 87.71% on completion of acquisition announced
18.5.22
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