TIDMPREM
RNS Number : 8141P
Premier African Minerals Limited
22 February 2021
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
22 February 2021
Premier African Minerals Limited
("Premier" or the "Company")
Appointment of New York based EAS Advisors LLC as US corporate
advisor
Premier African Minerals Limited ("Premier" or the "Company"),
is pleased to announce the appointment of New York-based EAS
Advisors LLC ("EAS") as its US corporate adviser, primarily to
assist with introductions to institutions and funding to enable the
Company to proceed with development of its current mining and
exploration projects in Sub-Saharan Africa, in particular a
Definitive Feasibility Study ("DFS") at the Company's Zulu Lithium
project in Zimbabwe ("ZULU").
Founded by Edward Sugar in 2008, EAS is a boutique global
advisory firm focused on helping early stage mining and industrial
groups access US and international financial markets and
institutional capital.
Having participated in over US$6 billion in transactions since
inception, EAS has been instrumental in a number of financing
arrangements and has a sound record for backing early finance deals
for a number of natural resource focused companies.
George Roach, Chief Executive of Premier commented:
"I'm delighted that we have brought on EAS as our US corporate
advisers. We're looking forward to working with them as we develop
our US profile and take significant steps forward in the
development of ZULU."
EAS founder, Edward Sugar said:
"With ever increasing EV demand the need for development of
lithium projects becomes more essential. We're looking forward to
working with the Company regarding its ongoing finance,
particularly regarding the Company's Zulu lithium project, as well
as lifting its profile in North America."
About EAS Advisors
EAS Advisors, LLC is a private, New York-based boutique
corporate advisory firm providing a service to small and mid-cap
companies operating predominantly in the natural resource and
commodity sectors. The foundation of EAS's business is built on
industry knowledge, capital markets insights and access to
traditional and alternative sources of capital. In addition to
exposure to US investors, EAS provides companies with access to
local industry contacts to support their growth and expansion. EAS
operates under the broker dealer license of Odeon Capital Group LLC
- member of FINRA/SIPC/MSRB/NFA. More details on EAS Advisors can
be found on EAS's website at https://easadvisors.com/
Further AIM disclosures
Premier has agreed to issue, conditional on EAS raising at least
US$5 million of new funding for Premier to support the development
of a DFS for ZULU on terms acceptable to Premier ("Funding"), a
total of 360,000,000 warrants to subscribe for new ordinary shares
of Premier ("Warrants") on the following terms:
- The exercise price of 90,000,000 Warrants shall be at a 40%
premium to Premier's closing share price the day prior to the
announcement of the Funding;
- The exercise price of 90,000,000 Warrants shall be at a 60%
premium to Premier's closing share price the day prior to the
announcement of the Funding;
- The exercise price of 90,000,000 Warrants shall be at a 80%
premium to Premier's closing share price the day prior to the
announcement of the Funding; and
- The exercise price of 90,000,000 Warrants shall be at a 100%
premium to Premier's closing share price the day prior to the
announcement of the Funding.
The Warrants shall be exercisable at any time following the date
of award for a period of 3 years. The Warrants will be subject an
acceleration clause whereby if Premier share price is 200% above
the warrant price for 20 consecutive trading days, the warrant
holder will be required to exercise within thirty days following
written notice by Premier.
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 holds 5,010,333 shares in Circum Minerals Limited, the
owners of the Danakil Potash Project in Ethiopia, which has the
potential to be a world class asset.
In addition, the Company holds a 19% interest in MN Holdings
Limited, the operator of the Otjozondu Manganese Mining Project in
Namibia.
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)
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Jerry Keen/Edward Mansfield Shore Capital Stockbrokers Limited Tel: +44 (0) 20 7408 4090
M atthew Bonner E AS Advisors LLC T el: +1 646 495 2225
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