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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
African Battery Metals Plc | LSE:ABM | London | Ordinary Share | GB00BYWJZ743 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.55 | 0.50 | 0.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPOW
RNS Number : 6545V
Power Metal Resources PLC
14 December 2021
14 December 2021
Power Metal Resources plc ("Power Metal" or the "Company")
Exercise of Warrants and 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 exercise of warrants and warrant update.
Warrant Exercise
The Company has received notices to exercise warrants over 16,000,000 new ordinary shares of 0.1 pence each in the Company ("Warrant Shares") raising an additional GBP112,000 for the Company.
The Warrant Shares are being issued pursuant to the exercise of 16,000,000 warrants at an exercise price of 0.7 pence per ordinary share of 0.1 pence each in the Company ("Ordinary Share").
Warrant Update
The warrants exercised above were issued in December 2019 pursuant to a Power Metal financing ("2019 Warrants") and had a 17 December 2021 expiry.
Following the exercise of the 2019 Warrants announced today the Company can confirm that, excluding those held by current Power Metal directors, all warrants due for expiry in December 2021 have been exercised in full.
As noted above Power Metal directors hold the remaining 11,250,000 2019 Warrants which remain to be exercised, subject to the Company dealing code. This includes 6,250,000 2019 Warrants held by Paul Johnson (Chief Executive Officer) and 5,000,000 2019 Warrants held by Ed Shaw (Non-executive Director).
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 16,000,000 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 21 December 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 1,441,839,987 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) +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 - 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.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:
Project Location POW % Work Completed Results Awaited or Underway Alamo Gold USA Earn-in Excavation of multiple Field results from Project to 75% test pits and mapping on-site work programme. & sampling. ---------- --------- -------------------------- ------------------------- Athabasca Canada 100% Phase I field exploration Laboratory assay Uranium completed results of samples collected for uranium and REEs ---------- --------- -------------------------- ------------------------- Authier North Canada Earn-in Soil & rock sampling Laboratory assay Lithium to 100% completed results of samples collected ---------- --------- -------------------------- ------------------------- Ditau Project Botswana 50% Preparatory exploration Field programme work underway on findings and defined target I10 leading drill targets for to planned accelerated near term drilling. drilling targeting rare-earth elements and base metals ---------- --------- -------------------------- ------------------------- Kalahari Copper Botswana 50% Exploration programme Field programme Belt underway across findings and defined the South Ghanzi drill targets for Project and further near term drilling exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas ---------- --------- -------------------------- ------------------------- Molopo Farms Botswana 53% Kavango Option Results from various to acquire an interest work activities in local project underway as part holding company. of the Kavango Option fee payable Option through defined work programme ---------- --------- -------------------------- ------------------------- Tati Gold/Nickel Botswana 100% Reverse circulation Laboratory assay drill programme results awaited completed ---------- --------- -------------------------- ------------------------- Victoria Goldfields Australia 49.9% Ongoing exploration Results from field across 1,012km(2) programme including of granted exploration drill targets for licences near term drilling ---------- --------- -------------------------- ------------------------- Wallal Gold/Copper Australia 83.33% Passive seismic Results awaited Project and 2D seismic processing work programme completed ---------- --------- -------------------------- -------------------------
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(END) Dow Jones Newswires
December 14, 2021 12:42 ET (17:42 GMT)
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