Power Minerals Limited (ASX: PNN) — Power Minerals Lands A$1.7M Strategic Backing from International Resources Fund
18 June 2026
Price Sensitive Announcement $
Highlights:
- Power Minerals has secured a A$1.7 million strategic investment via a binding Share Subscription Agreement with an unrelated, well-known international specialist resources investment fund
- The Placement was completed at an issue price of A$0.145/share — equal to Power Minerals’ closing share price on 17 June 2026 — for a total of 11,724,138 new fully paid ordinary shares
- The investor will also receive 5,862,069 free attaching listed PNNOA options on a 1-for-2 basis, exercisable at A$0.10 and expiring 31 December 2029
- Proceeds will be used to rapidly advance the Morro do Ferro REE Project in Brazil, where a maiden diamond drilling program is currently underway
- The strategic placement follows closely on the heels of Power’s recent $10.25 million capital raise, leaving the Company well funded to advance project development activities in Brazil
- Settlement is expected within three business days of execution of the Subscription Agreement, with shares and options issued under the Company’s available placement capacity under ASX Listing Rule 7.1
Overview:
Power Minerals has secured a further vote of confidence in its Morro do Ferro Rare Earths Project, executing a binding Subscription Agreement with an international specialist resources investment fund for a A$1.7 million strategic equity placement. The investment was completed at A$0.145 per share — matching the Company’s closing price on 17 June 2026 — underscoring the quality of the offer and the strength of investor demand at current market pricing.
Under the placement, the investor will receive 11,724,138 new shares plus 5,862,069 free attaching PNNOA options, exercisable at A$0.10 through to the end of 2029. The capital adds to Power’s already solid balance sheet following its recent $10.25 million placement, further strengthening the Company’s funding position as it pushes ahead with its maiden diamond drilling campaign and metallurgical test work at Morro do Ferro in Brazil.
With drilling already underway targeting depth and strike extensions of the project’s high-grade TREO and MREO mineralisation, this latest strategic injection of capital provides Power with additional firepower to accelerate technical work and move efficiently toward a maiden Mineral Resource Estimate.
Company Notes:
Power Minerals Managing Director Mena Habib described securing the strategic investment from such a high-calibre international resource fund as a major validation of the Company’s strategy and the opportunity presented by Morro do Ferro. He noted that completing the placement at a price equal to the Company’s recent closing share price was further testament to the quality of the asset and management’s approach to unlocking its value proposition. Habib said the Company was delighted to strengthen its balance sheet at this important time, allowing Power to rapidly advance its understanding of Morro do Ferro and leverage the experience of new CEO Alistair Stephens, who is driving the technical program.
About Power Minerals Limited (ASX: PNN | OTCQB: PEIMF):
Power Minerals is an ASX and OTCQB-listed critical minerals exploration and development company advancing its flagship Morro do Ferro Rare Earths Project in Minas Gerais, Brazil. The 100%-owned project is situated within the Poços de Caldas alkaline complex, an emerging global rare-earth hub, and hosts exceptional near-surface TREO and MREO mineralisation. Power is currently undertaking a maiden diamond drilling campaign and metallurgical test work at the project, supported by a strong balance sheet following recent capital raisings totalling in excess of $11.9 million.
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