Two National Guard members shot near White House
LONDON - Power Metal Resources PLC (AIM:POW, OTCQB:POWMF) has completed its initial 35% investment in Dubai-based Kingia FZCO, which will be renamed Minestarters, according to a Thursday statement from the company.
The London-listed natural resources exploration company first announced the proposed investment on September 4. Minestarters is described as a blockchain-enabled Decentralised Finance tokenization platform focused on mineral exploration and development projects.
Power Metal maintains an option to increase its stake to 49% for an additional £2 million cash subscription, contingent on milestone delivery.
The company stated that Minestarters aims to provide regulated access to mineral exploration investments through tokenization in what it claims is a $25 billion real-world asset market. The platform plans to offer investors automated benefit sharing, continuous liquidity, and project transparency.
According to the press release, the platform intends to address funding challenges in early-stage mining projects by channeling investment into exploration and development assets through blockchain technology.
The company did not disclose the financial terms of the initial 35% investment.
Power Metal Resources describes itself as a natural resources exploration company and project incubator with interests spanning precious, base and strategic metal exploration across North America, Africa, Saudi Arabia, Oman and Australia.
The information was released as part of a regulatory announcement to the London Stock Exchange.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.