March 13, 2017 / 4:09 AM / a year ago

BRIEF-Power Metals announces intention to spin-out its hard-rock lithium assets

March 13 (Reuters) - Power Metals Corp

* Power Metals Corp. Announces intention to spin-out its hard-rock lithium assets

* intends to undertake plan of arrangement whereby it will transfer its hard-rock lithium assets to newly formed subsidiary

* Says directors and management of new pwm will be same as currently exists for power metals.

* under plan, each power metals shareholder will receive equivalent number of common shares of new pwm as they hold in co

* under plan, each power metals warrant holder, option holder will receive equal number of warrants, options in new pwm on identical terms Source text for Eikon: Further company coverage:

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