Business
Listing of Golden Metal Resources PLC
Listing of Golden Metal Resources PLC.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES\nOR DISSEMINATION IN THE UNITED STATES OF AMERICA\n \n10 May 2023\nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\nListing of Golden Metal Resources PLC\n \nPower Metal 62.06% held Spin-Out IPO Vehicle Golden Metal Resources PLC Announces Admission to Trading on AIM With Power Metal's Holding Valued at £4.44m\nPower Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio notes the announcement today by Golden Metal Resources PLC (LON:GMET)(\"Golden Metal\") of admission today of its entire issued ordinary share capital to trading on AIM, a market operated by the London Stock Exchange plc. This announcement may be viewed through the following link:\nhttps://www.londonstockexchange.com/news-article/GMET/first-day-of-dealings/15949375\nFurther information in respect of Golden Metal is available through the following website link: https://www.goldenmetalresources.com/\nPower Metal holds 52,248,756 Golden Metal ordinary shares of 1p each (\"Golden Metal Shares\") representing a 62.06% interest in Golden Metal, which at the IPO price of 8.5p per share is valued at £4,441,144 on admission.\nPower Metal's shareholding above is subject to a 12-month lock in agreement from today's date prohibiting the sale of Golden Metal Shares, with a follow on further 12-month orderly market arrangement thereafter.\nIn addition to the shareholding above, Power Metal holds 1,749,378 warrants to subscribe for a further 1,749,378 Golden Metal Shares at an exercise price of 10.75p per share and with a life to expiry of 12 months from today's date. Power Metal also holds 1,749,378 warrants to subscribe for a further 1,749,378 Golden Metal Shares at an exercise price of 17.5p per share and with a life to expiry of 24 months from today's date.\nSean Wade, Chief Executive Officer of Power Metal Resources PLC commented:\n\"We welcome today's listing of Golden Metal focused on exploration and development of its resource projects interests in Nevada, USA.\nI would like to thank the Golden Metal team and advisers for their hard work and dedication to deliver this important listing and look forward to Golden Metal driving their business forward, with proactive exploration programmes ...