MINE RESTORATION INVESTMENTS LTD - Renewal of cautionary announcement and update on IMBS acquisition

Renewal of cautionary announcement and update on IMBS acquisition

MINE RESTORATION INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 1987/004821/06)
Share code: MRI
ISIN: ZAE000164562
("MRI" or the "Company")

RENEWAL OF CAUTIONARY ANNOUNCEMENT

1. UPDATE IN RESPECT OF THE ACQUISITION OF AN INTEREST IN IMBS

Shareholders are referred to the detailed cautionary
announcement released on SENS on Tuesday 1 September 2015
(“Announcement”) in which MRI disclosed indicative terms of
the acquisition of approximately 39.2% of the issued share
capital of IMBS ("IMBS Acquisition") as well as further and
related corporate actions thereto.

Shareholders are advised that terms of the IMBS Acquisition
are at an advanced stage with the relevant parties involved.
As indicated in a renewal of cautionary announcement published
on SENS on 1 September 2015, MRI secured funding and entered
documentation. The funding was obtained on commercial terms
from its largest shareholder, Stellar Capital Partners
Limited, for an amount of R12.4 million, of which R5 million
has been advanced to IMBS in terms of the IMBS Acquisition,
and approximately R1.4 million has been advanced to meet
working capital requirements of the Company.

Currently, IMBS is focused on bringing its operation in
Phalaborwa into commercial production, which is one of the
conditions precedent to the consummation of the IMBS
Acquisition. MRI management is working closely with IMBS
management on monitoring the project and sourcing additional
debt funding for the project.

The Company will release further details and terms in respect
of the IMBS Acquisition once appropriate to do so.

2. RENEWAL OF CAUTIONARY

Due to the fact that the full terms of the IMBS Acquisition
have not yet been finalised, shareholders are advised to
continue to exercise caution when dealing in MRI’s securities
until further information has been published.


Rosebank, Johannesburg
14 October 2015

Designated Adviser: Stellar Advisers (Pty) Ltd

Date: 14/10/2015 04:06:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.