Power One Announces Warrant Extension
Power One Resources Corp. 1100 – 1111 Melville Street Vancouver, BC V6E 3V6 Vancouver: (604) 716-1036 Toronto: (416) 477-1220 Website: www.p1rc.com Email: [email protected]
NEWS RELEASE TSX-V: PWRO
POWER ONE ANNOUNCES WARRANT EXTENSION
Vancouver, BC, July 12, 2024 – Power One Resources Corp. (PWRO: TSX-V) (“Power One” or the “Company”) announces that the Company intends to extend the expiry date of a total of 2,000,000 share purchase warrants exercisable at $0.10 per share expiring on July 26, 2024 (the "Warrants"). The Warrants were issued to an insider of the Company pursuant to a private placement which closed on July 26, 2021.
The Company proposes to extend the expiry date by an additional two years to July 26, 2026 and reprice a total of 200,000 Warrants to an exercise price of $0.055 per share. The remaining 1,800,000 Warrants will continue to be exercisable at $0.10 per share in compliance with the policies of the TSX Venture Exchange. All other terms and conditions of the Warrants remain unchanged. The amendment of the Warrants is subject to acceptance by the TSX Venture Exchange.
About Power One
Power One Resources Corp. is a resource issuer listed on the TSX Venture Exchange under the symbol (PWRO). The Company’s flagship asset, the Pecors hosts significant potential for PGM-Ni- Cu mineralization related to the Pecors Magnetic anomaly, a large regional magnetic high extending 18 km long and 4 km wide and largely hidden beneath Huronian sediments. The Property also lies immediately east of Radio Fuels Corp., Eco Ridge Project where indicated resources total 22.306 Mt grading 0.045% U3O8 and 1,613 ppm REO (rare-earth oxides) and inferred resources of 36.955 Mt grading 0.046 % U3O8 and 1,560 ppm REO are recorded. The Company also holds the Wicheeda Properties, a Rare Earth Prospect in the Cariboo Mining Division, in British Columbia holding one of the largest land positions next door to Defense Metals Corp.’s deposit in the Rocky Mountain Rare-Earth Metal Belt.
ON BEHALF OF THE BOARD
Power One Resources Corp.
“Karim Rayani”
Karim Rayani President, CEO and Director Tel: 604 716 0551 Email: [email protected]
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Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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