Premier African Minerals Limited

Regulatory Filings • Jun 24, 2015

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 0256R

Premier African Minerals Limited

24 June 2015

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

24 June 2015

Premier African Minerals Limited

("Premier" or the "Company")

Exercise of Warrants and Issue of Equity

Premier African Minerals Limited, the AIM-traded, multi-commodity mining and resource development company focused on Southern and Western Africa, provides an update on corporate transactions.

Darwin Strategic Limited ("Darwin") the holders of 40 million warrants as announced on 3 February 2015 has issued a notice of exercise in respect of 35,000,000 warrants at an exercise price of 1.25p for total consideration of GBP437,500.  The Company has therefore issued today 35,000,000 new Ordinary Shares to Darwin ("Darwin Shares").

The Darwin Shares will when issued rank pari passu in all respects with the existing ordinary shares. Application will be made for the Darwin Shares to be admitted to trading on AIM and admission is expected to take place on or around 30 June 2015.

Following the issue of the Darwin Shares, the Company's issued share capital consists of 646,371,512 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.

Please visit our website to view images of the progress made with the construction of the plant at www.premierafricanminerals.com.

Enquiries

Pamela Hueston	Premier African Minerals Limited	Tel: +44 (0) 755 778 3855
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: +44 (0) 207 628 3396
Jerry Keen/ Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: +44 (0) 207 408 4090
Kelsey Traynor/Dominic Barretto	Yellow Jersey PR Limited	Tel: +44 (0) 779 900 3220

Notes

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and resource development company focused in Southern and Western Africa with production started at its flagship RHA project in Zimbabwe.

The Company has a diverse portfolio of projects, which includes tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Togo, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company also holds 2 million shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. At present those shares are valued at US$2.5 million based on the latest price at which Circum has accepted subscriptions.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAAKDADDSEAF