JOHANNESBURG,
Feb. 3, 2014 /CNW/ - Atlatsa
Resources Corporation ("Atlatsa") (TSXV: ATL; NYSE MKT: ATL; JSE:
ATL) is pleased to announce the completion of its group restructure
plan, previously announced on March 27,
2013 ("Restructure Plan").
The final phase of the Restructure Plan was
effected on January 31, 2014 between
Atlatsa and Anglo American Platinum Ltd's wholly owned subsidiary,
Rustenberg Platinum Mines Ltd ("Anglo American Platinum"),
including the subscription by Anglo American Platinum for 125
million new shares in Atlatsa for an aggregate subscription price
of ZAR 750 million.
The proceeds from the subscription have been
utilized by Atlatsa to further reduce its outstanding debt to Anglo
American Platinum and, consequently, reduce its cost of
borrowing.
In connection with the completion of the
Restructure Plan, Atlatsa is also pleased to announce that the
migration of its stock exchange listing from the TSX Venture
Exchange to the Toronto Stock Exchange is expected to take place on
or around February 5, 2014, subject
to final TSX approval.
Harold Motaung, Chief Executive Officer, says,
"I am pleased that we've reached this milestone. Now that the
Restructure Plan has been completed, Atlatsa is in a position to
assess a number of strategic alternatives and opportunities for the
corporation going forward."
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, Atlatsa's migration to the Toronto Stock Exchange, future business
opportunities 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 Toronto
Stock Exchange listing will take effect in a timely manner, and
that the Restructure Plan 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
Toronto Stock Exchange listing in a timely manner, and the risk
that the anticipated financial condition improvements from the
Restructure Plan 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