Exercise of Warrants

RNS Number : 3864C

Power Metal Resources PLC

16 October 2020

 

16 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 a notice to exercise warrants over 2,200,000 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 including 1,000,000 warrants at an exercise price of 0.75p per ordinary share of 0.1 pence each and 1,200,000 warrants at an exercise price of 1.0 pence per ordinary share of 0.1 pence each.  Subscription monies of £19,500 have been received by Power Metal in respect of these exercises.

ADMISSION AND TOTAL VOTING RIGHTS

Application will be made for the 2,200,000 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 23 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 820,516,542 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)	[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 (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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