18th Dec 2015 17:03
LONDON (Alliance News) - Premier African Minerals Ltd late Friday said Darwin Capital Ltd has converted GBP208,750 of loan notes into equity.
The company said it will use the funds to re-open underground operations at its tungsten project in Zimbabwe. Premier African has issued 57.6 million new shares at an average issue price of 0.36256 pence per share following the conversion.
Premier African Mineral now has an issued share capital of 1.10 billion shares.
Premier African shares closed up 12.9% to 0.480 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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