News: PNN Power Minerals Executes Binding Agreement For Funding And Development Of Rincon Project

May 17 (Reuters) - Power Minerals Ltd (PNN) :

• POWER EXECUTES BINDING AGREEMENT FOR FUNDING AND DEVELOPMENT OF RINCON PROJECT
• BINDING TERM SHEET AND CONVERTIBLE LOAN AGREEMENT FOR STRATEGIC FUNDING AND DEVELOPMENT OF RINCON PROJECT
• UNDER BINDING TERM SHEET & CONVERTIBLE LOAN AGREEMENT, CO TO RECEIVE INITIAL STRATEGIC FUNDING OF US$5M
• REPENERGY INVESTMENT PRIVATE RESPONSIBLE FOR PROCUREMENT OF FINANCING FOR RINCON JV
• ON ESTABLISHMENT OF RINCON JV, CO TO TRANSFER RINCON PROJECT TO RINCON JV AND HOLD 41% INTEREST IN JV
• LI ENERGY TECHNOLOGY WILL HOLD 59% INTEREST IN JV ON ESTABLISHMENT

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