Power Metal Resources PLC Exercise of Warrants (0445V)
December 08 2021 - 12:25PM
UK Regulatory
TIDMPOW
RNS Number : 0445V
Power Metal Resources PLC
08 December 2021
8 December 2021
Power Metal Resources plc ("Power Metal" or the "Company")
Exercise of Warrants and Admission of Financing Shares
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 and
admission of shares to be issued in respect of the Company's
financing announced previously.
Warrant Exercise
The Company has received notices to exercise warrants over
7,500,000 new ordinary shares of 0.1 pence each in the Company
("Warrant Shares") raising an additional GBP52,500 for the
Company.
The Warrant Shares are being issued pursuant to the exercise of
7,500,000 warrants at an exercise price of 0.7 pence per ordinary
share of 0.1 pence each in the Company ("Ordinary Share).
Admission of Financing Shares
In addition, it is noted that following the Company's Financing
announced on 15 November 2021 60,000,000 new Ordinary Shares will
be admitted to trading on AIM on or around 13 December 2021
("Financing Shares"). The Financing Shares have therefore been
included in the Total Voting Rights below.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 7,500,000 Warrant Shares to be
admitted to trading on AIM which is expected to occur on or around
15 December 2021 ("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 1,425,839,987 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 POW % Work Completed Results Awaited
or Underway
Alamo Gold USA Earn-in Excavation of multiple Field results from
Project to 75% test pits and mapping on-site work programme.
& sampling.
---------- --------- -------------------------- -------------------------
Athabasca Canada 100% Phase I field exploration Laboratory assay
Uranium completed results of samples
collected for uranium
and REEs
---------- --------- -------------------------- -------------------------
Authier North Canada Earn-in Soil & rock sampling Laboratory assay
Lithium to 100% completed results of samples
collected
---------- --------- -------------------------- -------------------------
Ditau Project Botswana 50% Preparatory exploration Field programme
work underway on findings and defined
target I10 leading drill targets for
to planned accelerated near term drilling.
drilling targeting
rare-earth elements
and base metals
---------- --------- -------------------------- -------------------------
Kalahari Copper Botswana 50% Exploration programme Field programme
Belt underway across findings and defined
the South Ghanzi drill targets for
Project and further near term drilling
exploration at
the more recently
acquired South
Ghanzi Extension
and Mamuno licence
areas
---------- --------- -------------------------- -------------------------
Molopo Farms Botswana 53% Kavango Option Results from various
to acquire an interest work activities
in local project underway as part
holding company. of the Kavango
Option fee payable Option
through defined
work programme
---------- --------- -------------------------- -------------------------
Tati Gold/Nickel Botswana 100% Reverse circulation Laboratory assay
drill programme results awaited
completed
---------- --------- -------------------------- -------------------------
Victoria Goldfields Australia 49.9% Ongoing exploration Results from field
across 848km(2) programme including
of granted exploration drill targets for
licences near term drilling
---------- --------- -------------------------- -------------------------
Wallal Gold/Copper Australia 83.33% Passive seismic Results awaited
Project and 2D seismic
processing work
programme completed
---------- --------- -------------------------- -------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEUWUWRAUUURAA
(END) Dow Jones Newswires
December 08, 2021 13:25 ET (18:25 GMT)
African Battery Metals (LSE:ABM)
Historical Stock Chart
From Mar 2024 to Apr 2024
African Battery Metals (LSE:ABM)
Historical Stock Chart
From Apr 2023 to Apr 2024
