Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that today, Paul Johnson, Chief Executive Officer of the Company purchased 250,000 ordinary shares of 0.1 pence each in the Company (“Ordinary Shares”) at a price of 2.0988p per Ordinary Share through his Self-Invested Personal Pension (“SIPP”) (£5,247 invested).
Following the above purchase Mr Johnson has a beneficial interest in a total of 64,250,000 Ordinary Shares, representing approximately 5.41% of the issued share capital of the Company.
Additionally, as announced yesterday, Value Generation Limited, a private company beneficially owned by Paul Johnson, has irrevocably undertaken to exercise 10 million warrants to acquire 10 million new Ordinary Shares in the Company. A further announcement in respect of this warrant exercise will be made on 17 August 2021 and will increase Paul Johnson’s beneficial holding in the Company by a further 10 million Ordinary Shares.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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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.