Power Metal Resources PLC Insider Warrant Update (1019J)
August 19 2021 - 2:30AM
UK Regulatory
TIDMPOW
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) +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 (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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END
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