Power Metal Resources Plc (GB:POW) has released an update.
Power Metal Resources PLC has secured a £2 million investment through a loan note agreement with ACAM LP, which includes an option for additional warrants. A non-binding term sheet has also been signed with ACAM to potentially form a uranium-focused joint venture, leveraging Power Metal’s entire uranium license portfolio, with ACAM investing £10 million for a 70% stake in the subsidiary PMC. The joint venture aims to advance significant drilling programs, though its finalization remains uncertain as definitive legal documentation is still pending.
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