Phil Carroll and Kevin Hornsby are joined by Sean Wade, CEO of Power Metal Resources PLC, to discuss an exciting development.
Power Metal Resources PLC (AIM:POW, OTCQB:POWMF) has announced a £2 million strategic financing agreement with ACAM LP through a loan note subscription with warrants. The company has also entered an eight-week exclusivity period and signed a non-binding term sheet with ACAM to form a uranium-focused joint venture involving Power Metal’s uranium licences. ACAM, a natural resource-focused partnership, will invest £10 million for a 70% stake in Power Metal Resources Canada Inc., with potential additional payments of up to £4 million. This joint venture is set to replace the planned IPO of Uranium Energy Exploration plc, with costs covered by the loan proceeds. The financing terms include 13,333,333 warrants exercisable at 15 pence per share over five years and notes bearing 10% annual interest. Sean Wade expresses confidence in the transaction's potential to add significant value for shareholders.
Join us as we delve into the details of this strategic move and what it means for the future of Power Metal Resources.
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