Premier African Minerals Limited (LON: PREM) has raised £3.5mln at 0.3p per share in a fundraise through PrimaryBid.com that received a strong response on a first come, first served basis.
The offer was closed at 5:00 pm on Sunday, 1 October 2017. In afternoon trading today, Premier African shares were changing hands at 0.38p each, down 0.1p on Friday's close.
READ: Premier African Minerals says prospects for RHA has improved considerably
"The primary purpose of this placement was to settle the existing loan note and repurchase the shares issued under the swap agreement, and I am pleased to report that t will be settled immediately,” said Premier African chief executive George Roach.
“Underground development is fully funded and our team at RHA is confident that the minimum required tonnage at grade will be delivered to the plant during the latter part of Q4 to assure profitable operations. No further capital raise is anticipated or expected for RHA."
-- Adds share price --