Archive for March, 2016

Premier African Minerals announces direct shares subscription

Sunday, March 6th, 2016

Premier African Minerals Limited, the British Virgin Islands-registered company engaged in the development of mineral properties in Africa, and traded on the AIM market, announced that it has received a direct subscription for £500,000 in new ordinary shares. The subscription consisted of an issue of 100 mln new ordinary shares, at a subscription price of 0.5p each, conditional on admission which is expected to take place on or around 7 March. The subscription shares would rank pari passu with the company’s existing ordinary shares.

BVI company’s chairman and CEO George Roach said in his comments that this capital will support existing project development requirements and general working capital “in the period leading up achieving positive operational cash flow from the RHA Project”; he also said that the proceeds of the subscription will provide additional capital to consider potential attractive opportunities in the natural resources sector.