Power One Clarifies Warrant Amendment
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 CLARIFIES WARRANT AMENDMENT
Vancouver, BC, August 8, 2024 – Power One Resources Corp. (PWRO: TSX-V) (“Power One” or the “Company”) wishes to clarify the proposed amendment of 200,000 share purchase warrants (the “Repriced Warrants”) that the Company intends to reprice to an exercise price of $0.055 per share, as previously announced on July 12, 2024. The Repriced Warrants will be subject to an accelerated expiry such that if the closing price of the common shares of the Company on the TSX Venture exceeds $0.069 per share for 10 consecutive trading days (the “Premium Trading Days”), the exercise period of the Repriced Warrants will be reduced to 30 days. For more certainty, the reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day. The proposed amendment of the Repriced Warrants is subject to the approval of 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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