Home » Power Metal Resources (POW) » Power Metal Resources #POW – Amendment of Warrant Terms

Power Metal Resources #POW – Amendment of Warrant Terms

Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that, further to the announcement of 9 May 2023, the Company has today agreed to amend the terms of the warrants issued pursuant to the placing (“Fundraising Warrants”).

Under the amended terms, the expiry date of the Fundraising Warrants has been extended from 9 May 2028 to 23 May 2028. Further, under the amended terms if the volume weighted average price (“VWAP”) of the Company’s ordinary shares on each of 5 consecutive trading days exceeds £0.03 or on any subsequent occasion the 5 day VWAP exceeds £0.03, the Company may at any time in the next 10 business days issue an announcement through a Regulatory News Service to the effect that it is exercising its rights and write to the warrantholders providing 20 business days’ notice requiring accelerated exercise of the Fundraising Warrants, with payment required within 20 business days of the acceleration announcement date. To the extent that Fundraising Warrants are not exercised, or payment of the subscription price is not received, within 20 business days of the acceleration announcement date, the Fundraising Warrants will lapse.

There are no further changes to the terms of the Fundraising Warrants or the placing.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Sean Wade (Chief Executive Officer)

+44 (0) 20 3778 1396

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) 14 8341 3500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Leave a comment

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.