Michelmores advises AIM-quoted Power Metal Resources plc on two African cobalt-nickel acquisitions and associated placing

Michelmores have advised Power Metal Resources plc (AIM: ABM) on two separate all-share deals to acquire highly prospective cobalt-nickel exploration assets in Cameroon and Cote d’Ivoire and a related equity placing to fund development of the new assets.

The transaction, led by Corporate Partner Ian Binnie and Corporate Senior Associate Edwin Richards, saw the two separate transactions and associated placing delivered simultaneously in a challenging timescale to allow shareholders to consider them together.