Exercise of Warrants

RNS Number : 6328N

Power Metal Resources PLC

30 September 2021

 

30 September 2021

Power Metal Resources plc ("Power Metal" or the "Company")

Exercise of Warrants

Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces it has received a notice to exercise warrants over 9,240,843 new ordinary shares of 0.1 pence each in the Company ("Warrant Shares") raising an additional £69,306 for the Company.

The Warrant Shares are being issued pursuant to the exercise of 9,240,843 warrants at an exercise price of 0.75 pence per ordinary share of 0.1 pence each in the Company ("Ordinary Share").

ADMISSION AND TOTAL VOTING RIGHTS

Application will be made for the 9,240,843 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 7 October 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 1,254,808,787 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 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

 

 

IOEURUNRAWUKOAR