Power Metal Resources PLC New Resource Project Incubator Subsidiary (4956X)
May 04 2021 - 7:45AM
UK Regulatory
TIDMPOW
RNS Number : 4956X
Power Metal Resources PLC
04 May 2021
04 May 2021
Power Metal Resources PLC
("Power Metal" or the "Company")
New Resource Project Incubator Subsidiary
Power Metal Resources PLC (LON:POW) the AIM listed metals
exploration and development company is pleased to announce it has
established a new 100% owned and subsidiary 'incubator' business:
Power Capital Investments Ltd ("Power Capital"). Power Capital will
initially be fully funded by Power Metal.
Power Capital will actively identify small, entrepreneurial
business ventures with significant growth potential in the junior
resource space and provide support with regard to business
management, project development and corporate development to enable
them to scale rapidly and realise their potential. Power Capital
may also provide financial support.
Power Capital will look to develop these fledgling,
high-potential early stage ventures, to the point of sale, public
listing, or incorporation into the Company's portfolio, dependent
on a set of key performance indicators to be established.
As a major shareholder in each selected business, Power Capital,
and thereby Power Metal, has the opportunity for significant
capital appreciation from each successful venture together with a
self-created pipeline of new resource projects for operational
development by Power Metal.
Power Capital is the next step in Power Metal's quest to build a
strong, diversified and successful company and to create
significant value for its shareholders.
Paul Johnson, Chief Executive Officer of Power Metal Resources
commented:
"We are delighted to announce the establishment of a new
'incubator' subsidiary business, Power Capital Investments Ltd.
We are aware that across the globe, there are numerous
opportunities with huge potential for discovery that can struggle
to get past the initial phase of conception, due to a combination
of funding restrictions and lack of managerial resources to apply
to corporate development. Power Capital provides our highly
experienced team at Power Metal the chance to access, screen, and
select only the very best of these opportunities, and to nurture
the growth of these fledgling companies in exchange for equity.
It is expected that over time, Power Capital will further
strengthen Power Metal's portfolio of projects and create further
value for our shareholders, as successful ventures are either
incorporated into our portfolio, sold, or listed publicly."
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/ 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 and strategic metal exploration in Africa.
Project interests range from early stage greenfield exploration to
later stage prospects currently subject to drill programmes.
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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