Premier African Minerals Limited Result of Meeting (2011J)
August 14 2023 - 1:00AM
UK Regulatory
TIDMPREM
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
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 GBP2
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, www.premierafricanminerals.com
Enquiries:
George Roach Premier African Minerals Tel: +27 (0) 100
Limited 201 281
Michael Cornish Beaumont Cornish Limited Tel: +44 (0) 20
/ Roland Cornish (Nominated Adviser) 7628 3396
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Douglas Crippen CMC Markets UK Plc Tel: +44 (0) 20
3003 8632
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Toby Gibbs/Rachel Shore Capital Stockbrokers Tel: +44 (0) 20
Goldstein Limited 7408 4090
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Forward Looking Statements:
Certain statements in this announcement are or may be deemed to
be forward looking statements. Forward looking statements are
identi ed 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 re ect
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 a ccepted 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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END
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