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ATLATSA RESOURCES CORPORATION - Market update and renewal of cautionary announcement

Release Date: 22/10/2012 16:00
Code(s): ATL     PDF:  
Wrap Text
Market update and renewal of cautionary announcement

Atlatsa Resources Corporation
(previously Anooraq Resources Corporation)
(Incorporated in British Columbia, Canada)
(Registration number 10022-2033)
TSXV/JSE share code: ATL
NYSE AMEX share code: ATL
ISIN: CA0494771029
(”Atlatsa” or the “Company”)

MARKET UPDATE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders of Atlatsa are referred to the announcements released on the
Securities Exchange News Service on 2 February 2012, 3 May 2012, 14 June
2012, 27 July 2012, and 7 September 2012 respectively, relating to the
agreement of key terms in respect of a transaction to restructure,
recapitalize and refinance Atlatsa and the Bokoni group of companies
(“Bokoni group”), including Bokoni Platinum Mines (“Bokoni”), (the
“Restructure Plan”), as well as the media releases on 27 September 2012
and 2 October 2012 relating to the conclusion of the interim
implementation agreement (“the first phase agreement”).

The Bokoni operational review, initiated in Q2 2012 between Atlatsa and
Anglo American Platinum Limited, is now complete. Funding requirements
relating to the optimal Bokoni operational plan are currently under review
between the parties. Financial effects of the current strike action at
Bokoni will be taken into consideration once they have been fully
assessed.

Once the negotiations and definitive agreements relating to phase two of
the Restructure Plan have been finalized, the Company will publish the
financial effects of the Restructure Plan and post its circular to
shareholders seeking necessary approvals for its implementation.

A further detailed announcement will be released on the Securities
Exchange News Service, filed on SEDAR and EDGAR, and published in the
South African press, as soon as the financial effects have been finalized,
and the definitive transaction agreements have been executed.

Shareholders are advised to continue exercising caution when dealing in
the Company’s securities until a full announcement is made.

Johannesburg
22 October 2012

JSE Sponsor
Macquarie First South Capital (Pty) Limited

Issued on behalf of Atlatsa Resources Corporation

On behalf of Atlatsa

Joel Kesler
Executive: Corporate Development
Office: +27 11 779 6800
Mobile: +27 82 454 5556

Russell and Associates
Charmane Russell
Office: +27 11 880 3924
Mobile: +27 82 372 5816

Macquarie First South Capital
Annerie Britz/ Yvette Labuschagne
Office: +27 11 583 2000

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