Power Metal Resources PLC Exercise of Warrants (5331C)
October 19 2020 - 11:08AM
UK Regulatory
TIDMPOW
RNS Number : 5331C
Power Metal Resources PLC
19 October 2020
19 October 2020
Power Metal Resources PLC
("Power Metal" or the "Company")
Exercise of Warrants
Power Metal Resources PLC (LON:POW) the AIM listed metals
exploration and development company is pleased to announce it has
received notices to exercise warrants over 3,850,000 new ordinary
shares of 0.1 pence each in the Company ("Warrant Shares").
The Warrant Shares are being issued pursuant to the exercise of
warrants at an exercise price of 1.0 pence per new ordinary share
of 0.1p each in the Company. Subscription monies of GBP38,500 have
been received by Power Metal in respect of these exercises.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 3,850,000 Warrant Shares to be
admitted to trading on AIM which is expected to occur on or around
26 October 2020 ("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 824,366,542 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 (LON:POW) is an AIM listed metals
exploration and development company seeking a large scale metal
discovery.
The Company has a global portfolio of project interests
including precious metal exploration in North America and Australia
together with base metal exploration in Africa. Project interests
range from early stage greenfield exploration to later stage drill
ready prospects.
The Board and its team of advisors have expertise in project
generation, exploration and development and have identified an
opportunity to utilise the Company's position to become a leader in
the London market for investors wishing to gain exposure to
proactive global metals exploration.
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END
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