VANCOUVER, BC, March 30,
2023 /CNW/ - Power Metals
Corp. ("Power Metals" or the
"Company") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF)
is pleased to announce the appointment of Mr. Gerry Brockelsby, CFA as Chief Executive
Officer.
Mr. Brockelsby has over 45 years of experience in the investment
industry in both the equity and debt markets covering a wide range
of companies both public and private, from micro-caps to large
capitalization companies in a variety of industries. For eight
years Gerry was Chief Investment Officer for the Inco Pension Plan
where he managed equity and bond portfolios in addition to overall
asset mix of the $1 billion
plan. During this period with Inco, he also gained intimate
knowledge and experience in the mining industry.
In 1989, he formed Marquest Asset Management Inc. a registered
investment management firm which went on to manage assets for
several major pension funds. In the following years, Marquest
built a successful high net worth fund business offering various
specialty fund mandates to investors including the management of
resource flow-through funds. Over the course of Gerry's
career, he gained extensive experience as a seasoned investor in
the resource sector and has developed a sound reputation with both
resource companies and investors. Upon retiring from
Marquest, Mr. Brockelsby formed StoneGate Securities Ltd. to
provide advisory and investment banking services to the mining
community and continue to pursue his passion for investing in the
resource sector.
Mr. Brockelsby will replace the Company's founder, Johnathan More. Mr. More will continue to serve
as the Company's Chairman to the Board.
Johnathan More, Power Metals'
Chairman & Founder commented, "Power Metals is thrilled to have
Mr. Brockelsby take the helm as CEO. His knowledge and contacts in
the Canadian mining industry are unprecedented as Power Metals is
about to build a massive presence in the lithium space. The Company
has approximately $10 million in cash
and are ready to embark on a large-scale drill and exploration
program. Furthermore, we will be updating the market of our
immediate exploration plans very shortly."
About Power Metals Corp.
Power Metals Corp. is a
diversified Canadian mining company with a mandate to explore,
develop and acquire high quality mining projects. We are
committed to building an arsenal of projects in both lithium and
high-growth specialty metals and minerals. We see an unprecedented
opportunity to supply the tremendous growth of the lithium battery
and clean-technology industries. Learn more at
www.powermetalscorp.com
ON BEHALF OF THE BOARD,
Johnathan More,
Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
the content of this news release.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and may not be
offered or sold in the United
States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking
Information
This press release contains forward-looking
information based on current expectations, including the use of
funds raised under the Offering. These statements should not
be read as guarantees of future performance or results. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those implied by such statements.
Although such statements are based on management's reasonable
assumptions, Power Metals assumes no responsibility to update or
revise forward-looking information to reflect new events or
circumstances unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to several factors and risks including various risk factors
discussed in the Company's disclosure documents which can be found
under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The TSXV has neither reviewed nor approved the
contents of this press release.
SOURCE POWER METALS CORP