REG - Premier African Min. - Issue of Equity

Premier African MineralsAnnouncement

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RNS Number : 9288A  Premier African Minerals Limited  17 April 2026

17 April 2026

Premier African Minerals Limited

 

Issue of Equity

Premier African Minerals Limited ("Premier" or the "Company") announces that
Canmax Technologies Co., Ltd ("Canmax") has elected to convert a further
£187,296.16 (US$251,661.42) of accrued interest due under the Restated and
Amended Offtake and Prepayment Agreement ("Agreement") into new ordinary
shares in the Company at an issue price of 0.0126 pence per share, being the
same price as the Company's last placing announced on 26 March 2026 (the
"Issue Price"), in accordance with the terms of the Addendum to the Agreement
as announced on 24 December 2024.

In addition, the Company has agreed to settle £53,877 of contractor invoices
(the "Contractors"), at the Issue Price, in order to preserve cash resources
while continuing to meet its operational obligations.

The Company has therefore issued today 1,486,477,442 new ordinary shares to
Canmax (the "Canmax Shares") and 427,595,238 new ordinary shares to the
Contractors (the "Contractor Shares"), being 1,914,072,680 new ordinary shares
in aggregate (the "New Shares").

Admission

Application will be made for the New Shares to be admitted to trading on AIM
and admission is expected to take place on or around 23 April 2026.  The New
Shares will, when issued, rank pari passu in all respects with the existing
ordinary shares.

 

Total Voting Rights

Following the issue of the New Shares, the Company's issued share capital
consists of 25,367,938,732 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 Graham Hill.

A copy of this announcement is available at the Company's
website, www.premierafricanminerals.com
(https://url.avanan.click/v2/r02/___http:/www.premierafricanminerals.com/___.YXAxZTpzaG9yZWNhcDphOm86NDU5OGU0ZDgzYTJhOTIyZjliOTk4ODJkZWFmNTJlZTg6NzphYTg0Ojc2YzFhOGFhN2NmNjk2OWY1NzlkYTNjNGExM2ExZGI0YjBlNDMyYWVlZjg2ZTAxZmQ2NTc0OTRjODZiMzE5MDY6cDpUOk4)
.

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

 

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 encompassing
brownfield projects with near-term production potential to grass-roots
exploration.

 

Ends

 

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