The Warrant Shares are being issued pursuant to the exercise of 16,945,400 warrants at an exercise price of
Subscription monies of
With this incoming cash we are able to continue our proactive exploration and corporate activity across our current project portfolio.
In addition, we now have the financial strength to consider new additional opportunities subject to the usual engagement hurdles that any incoming projects must be of potential strategic significance to the Company and must not overstretch Power Metal's financial and managerial capability.'
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 33,787,504 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around
Following Admission, the Company's issued share capital will comprise 1,055,218,972 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
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
Contact:
Tel: +44 (0) 7766 465 617
Notes to Editors
The Company has a global portfolio of project interests including precious metal exploration in
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
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