Premier African Minerals Limited (AIM:PREM) exercised its option to acquire 30% interest in Danakil Potash project from AgriMinco Corp. (TSXV:ANO) for CAD 3.7 million in stock and cash on May 13, 2014. Under the terms of the agreement, Premier African Minerals will cancel 120.8 million shares of AgriMinco Corp at no consideration, will settle certain secured debt obligations owed by AgriMinco to third parties through payment of up to CAD 1.5 million that will be funded from the interest free, bridge loan of $2.5 million (CAD 2.72 million) provided by Circum Minerals Limited and will issue 55.8 million shares worth CAD 1 million. The transaction is expected to close on May 20, 2014.

Michael Cornish and Roland Cornish of Beaumont Cornish Limited and Jerry Keen and Edward Mansfield of Shore Capital Stockbrokers Limited acted as financial advisors and Tim Blythe and Halimah Hussain of Blytheweigh acted as public relations advisor for Premier African Minerals. Grant Gordon, Paul Airley and David Baverstock of Fladgate LLP acted as legal advisor to Premier African Minerals. Currency conversions were done through www.oanda.com as of May 13, 2014.

Premier African Minerals Limited (AIM:PREM) completed the acquisition of 30% interest in Danakil Potash project from AgriMinco Corp. (TSXV:ANO) on May 19, 2014.