ANGLO AMERICAN PLATINUM TO SUBSCRIBE FOR 125 MILLION
COMMON SHARES IN ATLATSA FOR ZAR 750
MILLION (US$ 70
MILLION)
JOHANNESBURG,
Jan. 16, 2014 /CNW/ - Atlatsa
Resources Corporation ("Atlatsa") (TSXV: ATL; NYSE MKT: ATL;
JSE:ATL) is pleased to announce that it has commenced with
implementation of the final stage of its group restructure plan,
previously announced on 27 March,
2013 ("Restructure Plan").
The final phase of the Restructure Plan
comprises a series of transactions between Atlatsa and Anglo
American Platinum Ltd's wholly owned subsidiary, Rustenberg
Platinum Mines Ltd ("Anglo American
Platinum"), resulting in Anglo American Platinum subscribing for
125 million new common shares in Atlatsa for an aggregate
subscription price of ZAR 750 million
(US$ 70 million).
In terms of the Restructure Plan, the proceeds
from the equity financing will be utilized by Atlatsa to further
reduce its balance sheet debt and, consequently, reduce its cost of
borrowing.
Atlatsa anticipates that its Restructure Plan
will be fully completed by early February
2014.
Full details of the Restructure Plan can be
found in Atlatsa's news release of March 27,
2013 or www.atlatsaresources.co.za.
Cautionary and forward-looking
information
This document contains "forward-looking
statements" that were based on Atlatsa's expectations, estimates
and projections as of the dates as of which those statements were
made, including statements relating to the Atlatsa group
Restructure Plan and anticipated financial or operational
performance. Generally, these forward- looking statements can be
identified by the use of forward-looking terminology such as "may",
"will", "outlook", "anticipate", "project", "target", "believe",
"estimate", "expect", "intend", "should" and similar
expressions.
Atlatsa believes that such forward-looking
statements are based on material factors and reasonable
assumptions, including the following assumptions: that the final
phase of the Restructure Plan will complete in a timely manner and
will have the anticipated positive impact on Atlatsa's financial
condition.
Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause
the Company's actual results, level of activity, performance or
achievements to be materially different from those expressed or
implied by such forward-looking statements. These include but are
not limited to uncertainties related to the completion of the
Restructure Plan in a timely manner, and the risk that the
anticipated financial condition improvements will not be
achieved.
For further information on Atlatsa, investors
should review the Company's annual Form 20-F filing with the United
States Securities and Exchange Commission www.sec.gov and annual
information form for the year ended 31
December, 2012 and other disclosure documents that are
available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The NYSE MKT LLC has neither approved nor disapproved
the contents of this press release.
SOURCE Atlatsa Resources Corporation