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Afri-can to acquire 20% of EPL 3403

Afri-Can Marine Minerals Corporation (Afri-Can) has announced that it is exercising its option to acquire 20% of the shares of Thyme Investments. Thyme is the 100% owner of the Exploration and Prospecting License (EPL) 3403 marine diamond concession in the country.
As a result, the Thyme share purchase agreement announced on 12 October, 2010, between Afri-Can and International Dredging and Holding Ltd (IMDH) and BV Investments Four Hundred and Nine. (BVI), has been amended.
In consideration for 20% of Thyme’s shares, Afri-Can will issue 9,750,000 common shares to IMDH and 3,250,000 common shares to BVI, and make a cash payment of US$100,000 to IMDH.
In consideration for the remaining 80% of Thyme’s shares, Afri-Can will start a geophysical survey within three months of signing the amendment, make a cash payment of US$50,000 to IMDH at that time, complete an initial resource delineation sampling program before 31 December, 2012, and issue a total of 52 million common shares to IMDH and BVI.
The geophysical survey will cover a minimum of 1000 line-kilometres on an area of 90 square kilometres. The sampling program will extract a minimum of 300 samples and/or last for a maximum of 30 days.
The total number of shares that Afri-Can will issue for 100% of EPL 3403 remains unchanged from the original agreement at 65 million common shares.
The amendment to the Thyme share purchase agreement and share issuances are subject to regulatory approval.
The technical teams of Afri-Can and IMDH are currently planning the geophysical survey, which will start once the transaction has been approved by authorities. Details of the programme will be disclosed to investors in due course.
Pierre Léveillé, president and CEO of Afri-Can, stated:“We are happy with this amendment which provides better terms for the parties involved. Our previous sampling programme demonstrates the high potential of EPL 3403 and we will now focus on its development in order to unlock value for our shareholders.”
EPL 3403 covers approximately 800 square kilometres and is adjacent to and north of the Atlantic One Mining Lease (ML) 47 owned by Namdeb, a 50:50 partnership between government and De Beers. ML 47 is currently producing in excess of 1.1 million carats per year.

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.