Premier African Minerals Limited announced that it expects to receive $0.25 million in funding from AgriMinco Corp..
Each unit comprises one new ordinary share in the capital of the company and one new warrant. The conversion price of the new shares under the loan facility shall be the United States dollar equivalent of the fifteen trading day volume-weighted average price of the ordinary shares two business days before the earlier of the maturity date and the date of a repayment notice, if any. Each new warrant would entitle the unit holder to subscribe for one new share at an exercise price equivalent to a 20% premium to the conversion price. The warrants can be exercised over a 24 month period from the date of issuance.