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(Alliance News) - Premier African Minerals Ltd said Tuesday it has agreed to convert a further USD50,000 of the investment made by D-Beta One EQ Ltd, YA II PN Ltd and Riverfort Global Opportunities PCC Ltd into shares in the company.
Premier African will issue 64.5 million shares at 0.06075 pence each to satisfy the conversion.
The company now has 12.86 billion shares in issue.
The secured investment agreement of USD290,000 was agreed in early May. The agreement allows the investors to convert the deal into shares.
At the time, Chief Executive Greg Roach said: "This agreement provides a further cash buffer as we approach finality in regard to both our EPO application at Zulu Lithium Pvt Ltd and the ongoing negotiations at RHA Tungsten Private Ltd in Zimbabwe."
By Paul McGowan; paulmcgowan@alliancenews.com
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