Appointment of New York based EAS as US advisor

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

22 February 2021 

Premier African Minerals Limited

("Premier" or the "Company") 

Appointment of New York based EAS Advisors LLC as US corporate advisor  

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to announce the appointment of New York-based EAS Advisors LLC ("EAS") as its US corporate adviser, primarily to assist with introductions to institutions and funding to enable the Company to proceed with development of its current mining and exploration projects in Sub-Saharan Africa, in particular a Definitive Feasibility Study ("DFS") at the Company's Zulu Lithium project in Zimbabwe ("ZULU").

Founded by Edward Sugar in 2008, EAS is a boutique global advisory firm focused on helping early stage mining and industrial groups access US and international financial markets and institutional capital.

Having participated in over US$6 billion in transactions since inception, EAS has been instrumental in a number of financing arrangements and has a sound record for backing early finance deals for a number of natural resource focused companies.

George Roach, Chief Executive of Premier commented: 

"I'm delighted that we have brought on EAS as our US corporate advisers. We're looking forward to working with them as we develop our US profile and take significant steps forward in the development of  ZULU."

EAS founder, Edward Sugar said:

"With ever increasing EV demand the need for development of lithium projects becomes more essential. We're looking forward to working with the Company regarding its ongoing finance, particularly regarding the Company's Zulu lithium project, as well as lifting its profile in North America."

About EAS Advisors

EAS Advisors, LLC is a private, New York-based boutique corporate advisory firm providing a service to small and mid-cap companies operating predominantly in the natural resource and commodity sectors. The foundation of EAS's business is built on industry knowledge, capital markets insights and access to traditional and alternative sources of capital. In addition to exposure to US investors, EAS provides companies with access to local industry contacts to support their growth and expansion. EAS operates under the broker dealer license of Odeon Capital Group LLC - member of FINRA/SIPC/MSRB/NFA. More details on EAS Advisors can be found on EAS's website at https://easadvisors.com/

Further AIM disclosures

Premier has agreed to issue, conditional on EAS raising at least US$5 million of new funding for Premier to support the development of a DFS for ZULU on terms acceptable to Premier ("Funding"), a total of 360,000,000 warrants to subscribe for new ordinary shares of Premier ("Warrants") on the following terms:

-      The exercise price of 90,000,000 Warrants shall be at a 40% premium to Premier's closing share price the day prior to the announcement of the Funding;

-      The exercise price of 90,000,000 Warrants shall be at a 60% premium to Premier's closing share price the day prior to the announcement of the Funding;

-      The exercise price of 90,000,000 Warrants shall be at a 80% premium to Premier's closing share price the day prior to the announcement of the Funding; and

-      The exercise price of 90,000,000 Warrants shall be at a 100% premium to Premier's closing share price the day prior to the announcement of the Funding.

The Warrants shall be exercisable at any time following the date of award for a period of 3 years. The Warrants will be subject an acceleration clause whereby if Premier share price is 200% above the warrant price for 20 consecutive trading days, the warrant holder will be required to exercise within thirty days following written notice by Premier.

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe and lithium and gold in Mozambique, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company holds 5,010,333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.

In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.

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