REG - Premier African Min. - Result of Meeting

Premier African MineralsAnnouncement

14/08/2023 07:15

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RNS Number : 2011J  Premier African Minerals Limited  14 August 2023

14 August 2023

Premier African Minerals Limited

Result of General Meeting

Offtake and Prepayment Agreement Update

 

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to
announce that the resolution proposed to shareholders at the General Meeting
held on 12 August 2023 was duly passed. The full text of the resolution was
included in the notice of the General Meeting of the Company which was made
available from 21 July 2023 for download via the Company's website at:

https://www.premierafricanminerals.com/investors/circulars-and-notices
(https://www.premierafricanminerals.com/investors/circulars-and-notices)

The Company has also agreed the terms of an amended Offtake and Prepayment
Agreement with Canmax Technologies Co., Ltd ("Canmax") and a further
announcement will be made shortly. As Canmax is interested in 13.38 per cent.
of the issued share capital of the Company, the amendment to the Offtake and
Prepayment Agreement is a related party transaction for the purposes of Rule
13 of the AIM Rules and will be dealt with accordingly.

The Company has also now elected to draw down on the entire £2 million
Amended Facility entered into with George Roach (as previously announced on 9
August 2023) immediately on announcement of the full terms of the amended
Offtake and Prepayment Agreement with Canmax.

Market Abuse Regulation

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.

 

The person who arranged the release of this announcement on behalf of the
Company was George Roach.

 

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

 

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)
 Douglas Crippen                     CMC Markets UK Plc                  Tel: +44 (0) 20 3003 8632
 Toby Gibbs/Rachel Goldstein         Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'' ''could'' "should" ''envisage''
''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those
variations or comparable expressions including references to assumptions.
These forward-looking statements are not based on historical facts but rather
on the Directors' current expectations and assumptions regarding the Company's
future growth results of operations performance future capital and other
expenditures (including the amount. Nature and sources of funding thereof)
competitive advantages business prospects and opportunities. Such forward
looking statements reflect the Directors' current beliefs and assumptions and
are based on information currently available to the Directors. A number of
factors could cause actual results to differ materially from the results
discussed in the forward-looking statements including risks associated with
vulnerability to general economic and business conditions competition
environmental and other regulatory changes actions by governmental authorities
the availability of capital markets reliance on key personnel uninsured and
underinsured losses and other factors many of which are beyond the control of
the Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be reasonable
assumptions. The Company cannot assure investors that actual results will be
consistent with such forward looking statements.

 

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 has accepted a share offer
by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8%
interest in Circum Minerals Limited ("Circum"), the owners of the Danakil
Potash Project in Ethiopia, for a 13.1% interest in the enlarged share capital
of Vortex. Vortex has an interest of 36.7% in Circum.

 

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

 
Ends

 

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