Issue of Equity
Premier African Minerals Limited has issued 7,077,211,917 new ordinary shares, comprising 5,164,699,762 shares issued to Canmax Technologies Co., Ltd to convert £225,180.19 of accrued interest, and 1,912,512,155 shares issued to contractors to settle £83,385.53 in invoices and loan interest, all at an issue price of 0.00436 pence per share. These new shares, which rank pari passu with existing shares, will be admitted to trading on AIM around 26 October 2026, bringing the Company's total issued share capital to 84,674,415,519 ordinary shares.
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Premier African Minerals Limited ("Premier" or the "Company") announces that Canmax Technologies Co., Ltd ("Canmax") has elected to convert a further £225,180.19 (US$298,096.74) of accrued interest due under the Restated and Amended Offtake and Prepayment Agreement ("Agreement") into 5,164,699,762 new ordinary shares in the Company at an issue price of 0.00436 pence per share, being the same price as the Company's last placing announced on 5 October 2026 (the "Issue Price"), in accordance with the terms of the Addendum to the Agreement as announced on 24 December 2024 (the "Canmax Shares").
In addition, the Company has agreed to settle an aggregate amount of £83,385.53, comprising outstanding contractor invoices and unpaid interest due on the 2023 loan advance made by George Roach to the Company, through the issue of 1,912,512,155 new ordinary shares also at the Issue Price, in order to preserve cash resources (the "Contractor Shares").
The Company has therefore issued today 5,164,699,762 new ordinary shares to Canmax and 1,912,512,155 new ordinary shares to the Contractors, being 7,077,211,917 new ordinary shares in aggregate (the "New Shares").
Admission
The New Shares will rank pari passu in all respects with the existing ordinary shares. Application will be made for the New Shares to be admitted to trading on AIM and admission is expected to take place on or around 26 October 2026.
Total Voting Rights
Following the issue of the New Shares, the Company's issued share capital consists of 84,674,415,519 Ordinary Shares, with voting rights.
Market Abuse Regulations
The person who arranged the release of this announcement on behalf of the Company was Graham Hill.
A copy of this announcement is available at the Company's website, www.premierafricanminerals.com.
Distribution
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.