Toronto, Ontario – June 5, 2018 – Power Ore (“Power Ore” or the “Company”) (TSX.V: PORE) is pleased to announce that its shares will begin trading today at the open of the TSX Venture Exchange.
Power Ore is a brand-new company and listing, which upon listing will have $1 million in cash, 29,973,333 common shares outstanding and 100% ownership of two advanced stage assets – the cobalt and silver Mann Mine and the MacMurchy nickel property in in the Cobalt – Gowganda District of Ontario. Power Ore’s initial stage strategy is to establish a large base of cobalt and nickel advanced stage assets within Canada.
“The initial value proposition for the company is that our flagship asset, the Mann Mine in the Cobalt-Gowganda district of Northern Ontario, holds up extremely well relative to our comparable companies’ assets in the region. In fact, the Mann can be considered one of the most advanced stage assets in the district and one of the few that has actual and recent diamond drilling that demonstrates high grade mineralization for both cobalt and silver,” said Stephen Stewart, Power Ore’s CEO. He continues, “We are starting with a strong asset base, cash in the bank and a low share count which is tightly held by a group of very strong shareholders. We will then implement an active acquisition to complete a series of cobalt and nickel acquisitions that will make us a relevant player in the battery metals space in Canada.”
About Power Ore
Power Ore is positioning itself to be the owner of a diversified portfolio of battery metal assets in Canada, and is focused on two things:
- Assets whose metals are used in the manufacture of Batteries for Electrical Vehicles specifically, Cobalt and Nickel; and
- Advanced stage assets in Canada where discoveries have been made, mineralization is well understood and infrastructure is in place.
Power Ore’s first flagship asset is the Mann Silver-Cobalt Mine in the Cobalt – Gowganda district of Ontario.
High grade cobalt & silver intersections at Mann Mine property
Note: Refer to Power Ore’s NI43-101 Technical Report on the Mann Property dated 17 of April, 2018 available on Sedar and on Power Ore’s website.
For reference these holes are located as follows:
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo, Director and Vice President Exploration for Power Ore Inc., who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”
For information and updates on Power Ore, please visit: www.powerore.com
And please follow us on Twitter @PowerOre
To speak to the Company directly, please contact:
Stephen Stewart, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Power Ore is a trade name of PowerOre Inc. PowerOre Inc. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to PowerOre Inc. Additional information identifying risks and uncertainties is contained in filings by PowerOre Inc. with Canadian securities regulators, which filings are available under PowerOre Inc. profile at www.sedar.com.