Premier African Minerals, listed on AIM, has received regulatory approval from Canmax Technologies in China for its £5 million subscription.
This funding will support the ongoing optimization of the Zulu lithium and tantalum project, a plan announced last month.
The subscription was arranged within the company’s existing share authorities, and upon issuance, the 1.4 billion new ordinary shares will have equal standing with the existing ordinary shares in all respects.
The subscription shares are expected to be admitted to trading on AIM around September 15.
After the subscription shares are issued, the company’s issued share capital will comprise 25.4 billion ordinary shares, all with voting rights.
