JOHANNESBURG,
Dec. 18, 2013 /CNW/ - Atlatsa
Resources Corporation ("Atlatsa" or the "Company") (TSXV: ATL; NYSE
MKT: ATL; JSE:ATL) confirms that it has implemented the following
series of transactions, comprising key components of its
Restructure Plan previously announced on 27
March, 2013 ("Restructure Plan"):-.
- The conclusion and implementation of Atlatsa's new debt and
working capital facilities agreed with Anglo American Platinum
Limited ("Anglo American Platinum"); and
- The sale and transfer by Atlatsa of mineral properties to
Anglo American Platinum, comprising
the eastern section of the Ga Phasha PGM project, together with its
entire interest in the Boikgantsho Platinum Group Metals project
for an aggregate purchase consideration of ZAR 1.7 billion (US$ 165 million).
The proceeds from such asset sales has been
utilized by Atlatsa to reduce its historical debt owing to Anglo
American Platinum.
It is anticipated that the final component of
the Restructure Plan is anticipated to be completed during
January 2014, when Anglo American Platinum will effect an equity
financing into Atlatsa by subscribing for 125 million new shares in
the Company for an aggregate subscription price of ZAR 750 million (US$ 73 million). The proceeds from such
equity financing will be utilized by Atlatsa to further reduce
historical debt owing to Anglo American Platinum.
Implementation of the Restructure Plan will result in a material
reduction in Atlatsa's balance sheet debt position and its cost of
borrowing going forward.
Please refer to www.atlatsaresources.co.za for full details of
the Restructure Plan.
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