Power Metal Resources plc raised £112,000 after receiving notices to exercise warrants over 16,000,000 new ordinary shares of 0.1 pence each in the company.
2019 WARRANTS
The warrant shares are being issued pursuant to the exercise of 16,000,000 warrants at an exercise price of 0.7 pence per ordinary share of 0.1 pence each.
Power Metal said that the warrants exercised were issued in December 2019 following a company financing and had a 17 December 2021 expiry.
All 2019 warrants due for expiry in December 2021 have been exercised in full excluding the the remaining 11,250,000 held by current directors.
Chief executive Paul Johnson holds 6,250,000 2019 2019 warrants and non-executive director Ed Shaw holds 5,000,000.