REG - Premier African Min. - Canmax Interest Conversion

Premier African MineralsAnnouncement

02/09/2025 07:00

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RNS Number : 5521X  Premier African Minerals Limited  02 September 2025

2 September 2025

Premier African Minerals Limited

 

Canmax Interest Conversion

 

Premier African Minerals Limited ("Premier" or the "Company") announces that
Canmax Technologies Co., Ltd ("Canmax") has elected to convert £272,378.20
(approximately US$368,337) of accrued interest due under the Restated and
Amended Offtake and Prepayment Agreement ("Agreement") into new ordinary
shares in the Company, in accordance with the terms of the Addendum to the
Agreement as announced on 24 December 2024.

 

The Company has therefore issued today 1,184,253,059 new ordinary shares to
Canmax ("Canmax Shares") at an issue price of 0.023 pence per Canmax Share,
being the same issue price as the direct subscription announced on 21 August
2025.

 

Admission

The Canmax Shares will rank pari passu in all respects with the existing
ordinary shares. Application will be made for the Canmax Shares to be admitted
to trading on AIM and admission is expected to take place on or around 8
September 2025.

 

Total Voting Rights

Following the issue of the Canmax Shares, the Company's issued share capital
consists of 84,859,029,039 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 Regulations

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 ("UK MAR").

The person who arranged the release of this announcement on behalf of the
Company was Godfrey Manhambara.

A copy of this announcement is available at the Company's
website, www.premierafricanminerals.com
(http://www.premierafricanminerals.com) .

Enquiries:

 

 Graham Hill                         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)
 Douglas Crippen                     CMC Markets UK Plc                  Tel: +44 (0) 20 3003 8632
 Toby Gibbs/ Harry Davies-Ball       Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090
 Andrew Monk / Andrew Raca           VSA Capital Limited                 Tel: +44 (0)20 3005 5000

 

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is
acting as nominated adviser to the Company in connection with this
announcement and will not regard any other person as its client and will not
be responsible to anyone else for providing the protections afforded to the
clients of Beaumont Cornish or for providing advice in relation to such
proposals. Beaumont Cornish has not authorised the contents of, or any part
of, this document and no liability whatsoever is accepted by Beaumont Cornish
for the accuracy of any information, or opinions contained in this document or
for the omission of any information. Beaumont Cornish as nominated adviser to
the Company owes certain responsibilities to the London Stock Exchange which
are not owed to the Company, the Directors, Shareholders, or any other person.

 

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.

 

Ends

 

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