Premier African Minerals Ltd. announced that it acquired a stake in the Ethiopian Potash Corp. (EPC) Premier African Minerals now controlled 120,000,000 common shares, about 42% of all issued and outstanding shares, after the close of a series of transactions.
The transactions referred to included the EPC's acquisition go shares of stock from G and B African Resources SARL (G & B Togo) and G and B African Resources Mali SARL (G & B Mali). G & B Togo had some exploration permits in the Togo and G & B Mali in Mali. These stock acquisitions were for investment purposes and approved at an annual and special shareholders meeting at EPC last June 30, 2013.
Through family trusts of which its Chief Executive Officer George Roach may be a beneficiary, Premier African Minerals has indirect control of EPC's 16,993,774 common shares, which is 14% of all issued and outstanding common shares, before the transactions.
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