Insider Warrant Update

RNS Number : 1019J

Power Metal Resources PLC

19 August 2021

 

19 August 2021

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

Insider Warrant Update

Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update in respect of Insider warrants.

The Company notes that Andrew Bell, Chairman, holds 10,000,000 warrants to subscribe for new ordinary shares of 0.1p at a price of 1.0p per share, the expiry date for which was yesterday. The warrants were issued following Mr Bell's subscription for 10,000,000 shares in the Company's financing in February 2019.

Under clause 2.3 of the warrant agreement any warrant holder in possession of price sensitive information and who is precluded from exercising at the expiry date will be entitled to a 20 business day extension to the exercise period. The Company confirms that Mr Bell will receive that extension under the terms of the warrant agreement as Mr Bell was in possession of price sensitive information on 18 August 2021 in respect of information relating to the Tati Project, Botswana which has been released to shareholders this morning at 07:00.

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 and base 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.

 

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