02:00 Wed 21 Oct 2020
Premier African Min - Placing and Appointment of a Financial Adviser
Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
For immediate release
Premier African Minerals Limited
Placing and
Appointment of a Financial Adviser
Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce a placing today to raise
At the same time, Premier will be in a position to responsibly reassess its Zimbabwean assets and determine the best course of action to generate value for shareholders. I continue to believe in the value of our Zimbabwean assets and it is my fervent desire that the Zimbabwean government will resolve the issues surrounding RHA Tungsten and grant Premier the Exclusive Prospecting Order over the extended area at Zulu Lithium.
I expect to provide a further update in the near future."
Placing
Premier has today issued by way of a placing ("Placing"), conditional on admission, 2,750,000,000 new ordinary shares of nil par value ("Placing Shares") at a Placing price of
The Placing has been arranged by SBC and undertaken within the Company's existing share authorities. Premier intends to use the proceeds of the Placing to assist with the funding to identify and secure high value exploration and/or cash generative assets in other jurisdictions, payment of certain debts and for general working capital purposes necessary for the Group.
Appointment of Financial Adviser
Premier is also pleased to announce the appointment of SBC as a financial adviser to the Company to work alongside its existing advisers to assist the Company with identifying and securing high value exploration targets in other jurisdictions, with immediate effect.
Total Voting Rights
Following the issue of the Placing Shares, the Company's issued share capital consists 16,292,866,360 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.
Enquiries:
|
Premier African Minerals Limited |
Tel: +27 (0) 100 201 281 |
|
Beaumont Cornish Limited (Nominated Adviser) |
Tel: +44 (0) 20 7628 3396 |
|
Shore Capital Stockbrokers Limited |
Tel: +44 (0) 20 7408 4090 |
Notes to Editors:
Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on
The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in
The Company holds 5,010,333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in
ENDS
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