Teathers to be renamed Uranium Energy Exploration

Power Metal Resources plc’s planned new uranium-focused subsidiary Teathers Financial plc will be renamed as Uranium Energy Exploration plc (UEE).

LISTING

The change will come into force after completion of UEE’s acquisition of Power Metal’s Reitenbach property east of the Athabasca basin in Saskatchewan.

The new name will also be used for the subsidiary’s planned listing in London.

Power Metal is currently undertaking exploration work at Reitenbach prior to the sale.

“Regrettably the UK capital markets do not have many uranium focused shares, and there is limited opportunity for UK investors to participate in the uranium sector,” said chief executive Paul Johnson.

“This new planned listing will add another opportunity, and we understand the investor engagement thus far, has demonstrated there is a great deal of interest.”