Power Metal Resources plc uranium-focused subsidiary has completed a pre-IPO financing of £421,500 for its planned listing during the first half of 2024.
Vehicle: has a high quality collection of uranium interests and an exciting period of exploration ahead (Pixabay)
EXPECTATIONS
Teathers Financial plc, to be renamed as Uranium Energy Exploration plc (UEE), raised the funds at 1.241135p per Teathers new ordinary share.
It conditionally acquired the Reitenbach and E-12 Uranium properties in 2022 from Power Metal under then chief executive officer Paul Johnson.
Following completion of the acquisitions, Power Metal expects to hold a significant interest in the newly listed vehicle.
Completion of the financing is subject Teathers’ shareholders approval at a general meeting yet to be arranged.
Power Metal chief executive Sean Wade, who is also a director and shareholder of Teathers, said that the fundraise had outperformed expectations.
“I look forward to the planned IPO of UEE with a high quality collection of uranium interests and an exciting period of exploration ahead.”
Companies House currently lists Teathers’ officers as Mr Wade, director Alexander Barblett and accountant Mario Visconti.
Power Metal Resources plc's planned new uranium-focused subsidiary Teathers Financial plc will be renamed as Uranium Energy Exploration plc (UEE). Listing: Power Metal is currently undertaking exploration work at Reitenbach prior to the sale (Wiki) LISTING The change will come into force after completion of UEE's acquisition of Power Metal's…
Teathers Financial Ltd has changed its name to Uranium Energy Exploration plc. Companies House recorded the change effective on 8 March 2024. The directors remain the same as Alexander Barblett, accountant Mario Visconti and Power Metal Resources plc chief executive Sean Wade. Power Metal previously conditionally sold two of its…
Teathers Financial plc has appointed Alexander Barblett as a non-executive director (NED) of the company. Companies House recorded the appointment effective from 24 October 2022. Mr Barblett has more than 25 years of senior management experience across numerous sectors. He is an experienced director and adviser for private and listed…
Ascent Resources plc said it intended to appoint Gilles Thieffry to the board as non-executive chairman. The company also created a new joint venture special purpose vehicle with Delta Energy Corp SARL, focusing on new development opportunities in “world-class proven hydrocarbon basins”. Mr Thieffry has four decades’ legal experience with expertise in capital markets, structured […]
Power Metal Resources plc plans to increase its interests in Ontario just days after the company’s acquisition of gold projects in the Canadian province. FOOTPRINT The company has signed a 30-day option for four gold exploration properties in the Hemlo-Schreiber greenstone belt for a total C$260,000. McKellar comprises 58 mining claims over 12.3km² prospective for […]
Power Metal Resources plc has received approval to start site drilling at the Wallal gold-copper project in the Paterson Province of Western Australia. HERITAGE CLEARANCE The company’s interests in projects in the area are held through its 62.12% subsidiary First Development Resources plc (FDR), which is due to be soon listed in the London capital markets. Wallal is one […]
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the ...
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
One Reply to “Power Metal uranium subsidiary raises £421,500”
Comments are closed.