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Comments on TSX continued listing review notification
Buffalo Coal Corp.
(previously Forbes & Manhattan Coal Corp.)
(Registration number: 001891261)
(External company registration number: 2011/011661/10)
Share code on the Toronto Stock Exchange: BUF
Share code on the JSE Limited: BUC
ISIN: CA1194421014
(“Buffalo” or the “Company”)
COMMENTS ON TORONTO STOCK EXCHANGE CONTINUED LISTING REVIEW NOTIFICATION
The Company, a mining company focussed on the production of coal in South Africa, announced on May
21, 2015, that it has been notified by the Toronto Stock Exchange (“TSX”) that it is being placed under
delisting review in respect of its common shares.
The TSX has advised the Company that it is reviewing whether the Company meets the continued listing
requirements of the TSX in the following areas: (i) the Company’s financial condition and operating results,
and (ii) the market value of publicly held listed securities of the Company.
The Company is being reviewed under the Remedial Review Process of the TSX and has been granted an
initial period of 120 days to comply with all requirements of the TSX for continued listing. If the Company
is unable to demonstrate on or before September 18, 2015 that it meets the requirements for continued
listing on the TSX, its securities will be delisted 30 days from such date.
The Company will be working with the TSX throughout the review process to satisfy the continued listing
requirements. In the event the Company is unable to continue with the listing of its securities on the TSX,
the Company will assess other listing alternatives in Canada.
About Buffalo Coal Corp.
Buffalo is a coal producer in southern Africa. It holds a majority interest in two operating mines through
its 100% interest in Buffalo Coal Dundee (Pty) Ltd, a South African company which has a 70% interest in
Zinoju Coal (Pty) Ltd (“Zinoju”). Zinoju holds a 100% interest in the Magdalena bituminous mine and the
Aviemore anthracite mine in South Africa. Buffalo has an experienced coal-focused management team.
Cautionary Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, but is not limited to, statements with respect
to the future financial or operating performance of Buffalo and its projects. Generally, forward-looking
information can be identified by the use of forward-looking terminology such as “plans”, “expects” or
“does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”
or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
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Forward-looking information is subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of Buffalo to be materially
different from those expressed or implied by such forward-looking information, including but not limited
to: general business, economic, competitive, foreign operations, political and social uncertainties; a
history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability
of external financing on acceptable terms; not realizing on the potential benefits of the proposed
transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be
refined; future prices of mineral products; failure of plant, equipment or processes to operate as
anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining
governmental approvals or required financing or in the completion of activities. Although Buffalo has
attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking information. Buffalo
does not undertake to update any forward-looking information, except in accordance with applicable
securities laws.
For Further Information Please Contact:
Malcolm Campbell Sarah Williams
Chief Executive Officer Chief Financial Officer
+27 82 924 4444 +27 83 781 1405
Email: malcolm.campbell@buffalocoal.co.za Email: sarah.williams@buffalocoal.co.za
Johannesburg
22 May 2015
Sponsor to Buffalo Coal Corp.
Questco (Pty) Ltd
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