Fladgate advises AIM listed Premier African Minerals on Ethiopian Potash asset

Our team: Paul Airley, Grant Gordon, David Baverstock

Fladgate LLP acted for Premier African Minerals Limited (Premier), on the purchase of the entire share capital of Mandalore Development Limited (Mandalore) from TSX-V listed AgriMinco Corp (AgriMinco). Mandalore owns a 30% interest in the Danakil Potash project which includes a potentially significant potash deposit in the Danakil Depression in Ethiopia.

The consideration comprised the cancellation of Premier’s 42% interest in AgriMinco, the settlement of certain debt obligations of AgriMinco up to a value of C$1.5 million and the issue of C$1 million worth of new Premier shares to AgriMinco.

Fladgate LLP has also advised Premier on the subsequent sale of Mandalore to Circum Minerals Ltd (Circum) for approximately US$6.5 million in cash and 2 million new Circum shares.

Premier is an AIM-quoted, multi-commodity African exploration company focused on Southern and West Africa. The Company has a diverse portfolio of multi-commodity projects which includes tungsten, rare earth elements, gold, lithium, tantalum and uranium in Zimbabwe and Togo, which span from brownfield projects with near-term production potential to grass-roots exploration. Fladgate LLP advised Premier on its admission to AIM in December 2012.

The Fladgate team was led by head of corporate Grant Gordon, with support from energy & resources partner Paul Airley and corporate associate David Baverstock.

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