Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to announce it has received a notice to exercise warrants over 8,000,000 new ordinary shares of 0.1 pence each in the Company ("Warrant Shares").
The Warrant Shares are being issued pursuant to the exercise of 8,000,000 warrants at an exercise price of 1.0 pence per ordinary share of 0.1 pence each in the Company.
Subscription monies of £80,000 have been received by Power Metal in respect of this exercise.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 8,000,000 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 11 December 2020 ("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 880,859,942 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.
4 December 2020