Business
Successful Fundraising via PrimaryBid
Successful Fundraising via PrimaryBid.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \nRNS Number : 0716X Premier African Minerals Limited 21 November 2017 \n\n \nFor immediate release\n21 November 2017\n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.\n \nPremier African Minerals Limited\n (\"Premier\" or the \"Company\")\nSuccessful Fundraising via PrimaryBid to Advance the Zulu Lithium Project\n \nPremier African Minerals Limited (AIM: PREM), AIM-traded multi-commodity mining and resource development company focused on Southern and Western Africa, announced on 20 November 2017 an underwritten offer to raise approximately £0.5 million (before expenses) at 0.4p per new Ordinary Share (the \"Offer\"). The Offer was made exclusively available through PrimaryBid.com.\n \nThe Offer received a very strong response from private as well as institutional investors and was oversubscribed. The Offer was on a \"first come, first served\" basis and was closed early at 7.02pm on 20 November 2017 once a total of £1,008,125 was surpassed. The Company is delighted to announce that following excess demand, the aggregate subscription amount of the Offer has been increased. The Company has raised gross proceeds of £ 1,008,125 through the Offer.\n \nThe Company will issue and allot 252,031,250 new Ordinary Shares at 0.4p pursuant to the Offer. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares and application will be made for the new Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on or around 27 November 2017.\n \nTotal Voting Rights\nFollowing the issue of the new Ordinary Shares, the Company will have 6,500,247,600 Ordinary Shares in issue. This figure may be used by the Company's shareholders as the denominator for the calculations by which they will determine...