7th Sep 2021 18:10
Power Metal Resources PLC - exploration company seeking large-scale metal discoveries - Sells its Schreiber-Hemlo project interests in Ontario, Canada to First Class Metals Ltd. The consideration is GBP1 million, payable through the issue of 333,334 new ordinary shares at 300 pence each. Further, Power Metal is to invest CAD50,000 to acquire 9,588 additional First Class shares in First Class's pre-initial public offering financing currently underway at the same price. Power Metal has the right but not the obligation up to IPO to maintain its percentage holding in First Class Metals at a minimum of 36%.
Current stock price: 2.00p
Year-to-date change: down 32%
By Arvind Bhunjun; [email protected]
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