Premier African Minerals is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.
Premier African Minerals gets further funding for Zulu Project. (Credit: Khusen Rustamov from Pixabay)
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 £5 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.
Source: Company Press Release