Power Metal Resources plc’s uranium portfolio partner has become the largest shareholder in spin-out Guardian Metal Resources plc following a legally binding sale and purchase agreement.
INVESTOR
Announced earlier this month, UCAM Ltd has bought from Power Metal 29,758,334 shares in tungsten-focused Guardian along with warrants over 986,352 ordinary shares for £9,225,083.91 before costs.
UCAM now holds 23.45% of Guardian while Power Metal’s holding decreases from 43.20% to 19.46% with 24,699,825 ordinary shares.
UCAM is a special purpose vehicle, and an affiliate of ACAM LP, formed as the investor in the uranium joint venture with Power Metal, Fermi Exploration Ltd.