25 March 2024
Power Metal Resources
PLC
("Power Metal" or the
"Company")
Uranium Energy Exploration ("UEE")
Update
Power Metal Resources PLC (AIM:POW),
the London listed exploration company with a global project
portfolio is pleased to provide an update
on the planned IPO of a number of its uranium interests using
Uranium Energy Exploration plc (UEE) as a vehicle to achieve an
admission to AIM.
Sean Wade, Chief Executive
Officer of Power Metal Resources PLC commented:
"The marketing process for the planned IPO of UEE continues to
attract significant interest from a range of investors, including
institutional investors, HNWs and retail investors in the UK and
elsewhere, including a potential cornerstone
investor.
However, a number of significant potential strategic investors
have indicated their preference for alternative deal structures
which may include a different combination of assets, or an enlarged
asset set with an enhanced business model.
The Board of Power Metal is therefore considering, from its
point of view, all options and will revert in due course on the
progress of those discussions and how this would affect the
proposed IPO of UEE both in terms of timing and
structure."
Shareholders should note that there
can be no certainty that any transaction will be completed with
POW's uranium interests.
Shareholders should also note
that Sean Wade is a director of both Power
Metal and UEE.
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)
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+44 (0) 20 3778 1396
|
|
|
SP Angel Corporate Finance (Nomad
and Joint Broker)
|
|
Ewan Leggat/Caroline Rowe/Harry
Davies-Ball
|
+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
BlytheRay (PR Advisors)
Tim Blythe/Megan Ray
|
+44 (0) 20 7330 1883
+44 (0) 20 7138 3204
|
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