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.
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
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