Premier African Minerals Limited Approval of further funding for Zulu Project (9919L)
September 11 2023 - 2:00AM
UK Regulatory
TIDMPREM
RNS Number : 9919L
Premier African Minerals Limited
11 September 2023
11 September 2023
Premier African Minerals Limited
Approval of further funding for Zulu Project
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to announce that Canmax Technologies Co., Ltd. ("Canmax")
has confirmed it has now received Chinese Regulatory Approval for
its subscription under which Premier has raised a further GBP5
million before expenses at an issue price of 0.35 pence per new
ordinary share for the ongoing Zulu Lithium and Tantalum Project
("Zulu") Optimisation (the "Subscription") as announced on 30
August 2023.
Admission Update
The Subscription had been arranged within the Company's existing
share authorities and the 1,428,571,428 new ordinary shares
("Subscription Shares") will, when issued, rank pari passu in all
respects with the existing ordinary shares. Application has been
made for the Subscription Shares to be admitted to trading on AIM
and admission is now expected to take place on or around Friday, 15
September 2023.
Total Voting Rights
Following the issue of the Subscription Shares, the Company's
issued share capital will consist of 25,407,477,694 Ordinary
Shares, with voting rights. This figure may be used by shareholders
in the Company as the denominator for the calculation by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the Financial Conduct Authority's Disclosure and Transparency
Rules.
Market Abuse Regulation
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018.
The person who arranged the release of this announcement on
behalf of the Company was George Roach.
A copy of this announcement is available at the Company's
website, www.premierafricanminerals.com
Enquiries:
Premier African Minerals Tel: +27 (0) 100
George Roach Limited 201 281
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20
Roland Cornish (Nominated Adviser) 7628 3396
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Tel: +44 (0) 20
Douglas Crippen CMC Markets UK Plc 3003 8632
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Toby Gibbs/Rachel Shore Capital Stockbrokers Tel: +44 (0) 20
Goldstein Limited 7408 4090
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Notes to Editors:
Premier African Minerals Limited (AIM: PREM) is a
multi-commodity mining and natural resource development company
focused on Southern Africa with its RHA Tungsten and Zulu Lithium
projects in Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, lithium and tantalum in Zimbabwe and
lithium and gold in Mozambique, encompassing brownfield projects
with near-term production potential to grass-roots exploration. The
Company has accepted a share offer by Vortex Limited ("Vortex") for
the exchange of Premier's entire 4.8% interest in Circum Minerals
Limited ("Circum"), the owners of the Danakil Potash Project in
Ethiopia, for a 13.1% interest in the enlarged share capital of
Vortex. Vortex has an interest of 36.7% in Circum.
In addition, the Company holds a 19% interest in MN Holdings
Limited, the operator of the Otjozondu Manganese Mining Project in
Namibia .
Ends
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END
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September 11, 2023 02:00 ET (06:00 GMT)
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