Appointment of Non-Executive Director

Power Metal Resources PLC

05 May 2023

 

5 May 2023

Power Metal Resources plc

("Power Metal" or the "Company")

Appointment of Non-Executive Director

Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the appointment of Bill Brodie Good as a Non-executive Director of the Company with immediate effect.

Bill has over 30 years experience in global exploration and project management with extensive work in geological and project management in Australia, Francophone West and Central Africa, the Middle East and Central Asia.

Bill's most recent role was as CEO and Technical Director of AIM listed Alien Metals in which he made the significant discovery of a DSO Iron Ore resource amongst other achievements with the company.

Bill's experience has extensively involved the design, planning and implementation of new and grass roots exploration programmes with an emphasis on in country logistics planning, government liaison, people management and project delivery on time and in budget. 

In addition to his role as a Non-executive Director, Bill will also provide consulting services to Power Metal directly at the project level.

Sean Wade, Chief Executive Officer of Power Metal Resources commented:

"I am delighted to welcome Bill to the Power Metal team and very much look forward to working with him as we seek to continue the development of our business.

We are very fortunate to have someone with Bill's experience and technical skills to assist with project development across the Company.

Our business model is based on selective project acquisition, adding value through exploration and corporate advancement and crystallisation to unlock the inherent value in our portfolio. Bill's expertise along with that of the rest of the board and our first class management team will ensure that that continues to happen."

Regulatory Disclosures:

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Douglas William Brodie Good, aged 61:

Current directorships and/or partnerships:	Former directorships and/or partnerships (within the last five years):
KBG Consultants Limited	Alien Metals Limited Mineral Exploration Services Ltd SRK Exploration Services Limited SRK Exploration Services Nominee Company Limited

Mr Brodie Good does not hold any shares in Power Metal.

Mr Brodie Good has confirmed there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM rules.

As part of Mr Brodie Good's employment contract Mr Brodie Good has been issued with Power Metal share options, namely, 5 million options to subscribe for new Power Metal ordinary shares of 0.1p each at an exercise price of 3.25 pence with a life to expiry of 3 years from today (the "Director Options"). The Director Options are subject to a minimum service period of 6 months and may not be exercised until the volume weighted average price of Power Metal shares trades at 5.0 pence for ten consecutive trading days.

PDMR Disclosure

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bill Brodie Good
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Power Metal Resources Plc
b)	LEI	213800VNXOUPHTX53686
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	ordinary shares of 0.1p each
	Identification code	ISIN: GB00BYWJZ743
b)	Nature of the transaction	Issue of Options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			3.25p	5,000,000
d)	Aggregated information
	- Aggregated volume	5,000,000
	- Price	3.25p
e)	Date of the transaction	5 May 2023
f)	Place of the transaction	Off Market

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
Sean Wade (Chief Executive Officer)	[phone]
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat	[phone]
SI Capital Limited (Joint Broker)
Nick Emerson	[phone]
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson	[phone]

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.

 

END