REG - Premier African Min - Appointment of New York based EAS as US advisor

Premier African MineralsAnnouncement

22/02/2021 07:00

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RNS Number : 8141P  Premier African Minerals Limited  22 February 2021

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

22 February 2021

Premier African Minerals Limited

("Premier" or the "Company")

Appointment of New York based EAS Advisors LLC as US corporate advisor

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to
announce the appointment of New York-based EAS Advisors LLC ("EAS") as its US
corporate adviser, primarily to assist with introductions to institutions and
funding to enable the Company to proceed with development of its current
mining and exploration projects in Sub-Saharan Africa, in particular a
Definitive Feasibility Study ("DFS") at the Company's Zulu Lithium project in
Zimbabwe ("ZULU").

Founded by Edward Sugar in 2008, EAS is a boutique global advisory firm
focused on helping early stage mining and industrial groups access US and
international financial markets and institutional capital.

Having participated in over US$6 billion in transactions since inception, EAS
has been instrumental in a number of financing arrangements and has a sound
record for backing early finance deals for a number of natural resource
focused companies.

George Roach, Chief Executive of Premier commented:

"I'm delighted that we have brought on EAS as our US corporate advisers. We're
looking forward to working with them as we develop our US profile and take
significant steps forward in the development of  ZULU."

EAS founder, Edward Sugar said:

"With ever increasing EV demand the need for development of lithium projects
becomes more essential. We're looking forward to working with the Company
regarding its ongoing finance, particularly regarding the Company's Zulu
lithium project, as well as lifting its profile in North America."

About EAS Advisors

EAS Advisors, LLC is a private, New York-based boutique corporate advisory
firm providing a service to small and mid-cap companies operating
predominantly in the natural resource and commodity sectors. The foundation of
EAS's business is built on industry knowledge, capital markets insights and
access to traditional and alternative sources of capital. In addition to
exposure to US investors, EAS provides companies with access to local industry
contacts to support their growth and expansion. EAS operates under the broker
dealer license of Odeon Capital Group LLC - member of FINRA/SIPC/MSRB/NFA.
More details on EAS Advisors can be found on EAS's website at
https://easadvisors.com/ (https://easadvisors.com/)

 

Further AIM disclosures

 

Premier has agreed to issue, conditional on EAS raising at least US$5 million
of new funding for Premier to support the development of a DFS for ZULU on
terms acceptable to Premier ("Funding"), a total of 360,000,000 warrants to
subscribe for new ordinary shares of Premier ("Warrants") on the following
terms:

 

-      The exercise price of 90,000,000 Warrants shall be at a 40%
premium to Premier's closing share price the day prior to the announcement of
the Funding;

-      The exercise price of 90,000,000 Warrants shall be at a 60%
premium to Premier's closing share price the day prior to the announcement of
the Funding;

-      The exercise price of 90,000,000 Warrants shall be at a 80%
premium to Premier's closing share price the day prior to the announcement of
the Funding; and

-      The exercise price of 90,000,000 Warrants shall be at a 100%
premium to Premier's closing share price the day prior to the announcement of
the Funding.

 

The Warrants shall be exercisable at any time following the date of award for
a period of 3 years. The Warrants will be subject an acceleration clause
whereby if Premier share price is 200% above the warrant price for 20
consecutive trading days, the warrant holder will be required to exercise
within thirty days following written notice by Premier.

 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and
natural resource development company focused on Southern Africa with its RHA
Tungsten and Zulu Lithium projects in Zimbabwe.

 

The Company has a diverse portfolio of projects, which include tungsten, rare
earth elements, lithium and tantalum in Zimbabwe and lithium and gold in
Mozambique, encompassing brownfield projects with near-term production
potential to grass-roots exploration. The Company holds 5,010,333 shares in
Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia,
which has the potential to be a world class asset.

 

In addition, the Company holds a 19% interest in MN Holdings Limited, the
operator of the Otjozondu Manganese Mining Project in Namibia.

 

Enquiries:

 

 George Roach                        Premier African Minerals Limited    Tel: +27 (0) 100 201 281
 Michael Cornish / Roland Cornish    Beaumont Cornish Limited            Tel: +44 (0) 20 7628 3396

                                     (Nominated Adviser)
 Jerry Keen/Edward Mansfield         Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090
 Matthew Bonner                      EAS Advisors LLC                    Tel: +1 646 495 2225

 

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