Power Minerals (ASX: $PNN) Proposed Issue of Securities

Power Minerals Limited (ASX: $PNN) has made a new announcement on 11/7/2024 regarding the proposed issue of 357,142 ordinary fully paid securities at an offer price of AUD 0.14000 per security. The proposed issue date is set for 8/1/2025.

Executive Commentary on Proposed Issue

The purpose for issuing the securities is a placement to Heng Li as part of the announcement dated 11 June 2024. There will be no change in the entity's dividend/distribution policy if the proposed issue proceeds. Additionally, any on-sale of the securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of the publication of a disclosure document or PDS for the securities proposed to be issued.

Summary of Proposed Issue

Power Minerals Limited (ASX: $PNN) has proposed the issue of 357,142 ordinary fully paid securities at an offer price of AUD 0.14000 per security. The proposed issue date is 8/1/2025. The purpose for issuing the securities is a placement to Heng Li as part of the announcement dated 11 June 2024. The entity confirms that there will be no change in its dividend/distribution policy if the proposed issue proceeds. Furthermore, any on-sale of the securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of the publication of a disclosure document or PDS for the securities proposed to be issued.