RE: Pilot mountain sale24 Jan 2022 12:29
From Nov 1st RNS:
Power Metal Resources Plc and its wholly owned subsidiary Golden Metal Resources Ltd ("Golden Metal") have exercised their option (the "Option") to acquire a 100% interest in Pilot Mountain.
§ Power Metal will pay US$115,000 in cash to Thor Mining and US$1,650,000 payable through the issue to Thor of 48,118,920 Ordinary Shares at an issue price of 2.5 pence per share ("Initial Consideration Shares").
§ In addition, Power Metal will issue to Thor 12.5 million warrants to subscribe for Ordinary Shares with an exercise price of 4p per Ordinary Share and life to expiry of 3 years.