Conditions Precedent met re Xinhai Agreement
African Pioneer Plc has announced that all conditions precedent have been met for its Definitive Agreement with Hong Kong Xinhai Mining Services Limited. Upon Xinhai's payment of GBP712,786 for their share subscription, African Pioneer will issue Xinhai's subscription shares, warrants, and 3,333,333 company shares valued at GBP30,000, which represents the conversion of Xinhai's previously paid intention money.
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African Pioneer Plc (“AFP”), the exploration and resource development company is pleased to announce that further to its announcements of 30 July 2026 and 1 September all conditions precedent have been met in relation to the financing and technical services agreement (the “Definitive Agreement”) signed between the Company and Hong Kong Xinhai Mining Services Limited (“Xinhai“) and announced on 30 July 2026.
Upon Xinhai making payment of their share subscription of GBP712,786 under the Definitive Agreement the Company will announce and arrange the issue of Xinhai’s share subscription shares, the issue of the Xinhai Warrants and the issue of the 3,333,333 African Pioneer shares to Xinhai in relation to the conversion of Xinhai’s previously paid intention money of GBP30,000.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.