Premier African Minerals Limited has settled approximately £217,000 of liabilities through the issue of new shares as the company continues prioritising working capital preservation and development of its Zulu Lithium and Tantalum Project.
The settlement covers around £163,000 in outstanding creditor invoices together with a further £54,000 relating to salaries and consultant payments.
To satisfy the obligations, Premier African Minerals will issue 1,177,475,676 new ordinary shares at an issue price of 0.0185 pence per share.
Management said the move forms part of the company’s broader strategy to conserve cash resources while advancing operations at the Zulu Lithium and Tantalum Project.
Following admission of the new shares, the company’s total issued share capital will increase to 39,303,760,989 ordinary shares.
The new shares will rank pari passu with existing ordinary shares, with admission to trading on the AIM market expected around May 27, 2026.
A copy of this announcement is available at the Company’s website, www.premierafricanminerals.com.
