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Oct. 2, 2012 /PRNewswire/ - Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSXV: ATL; NYSE MKT: ATL; JSE: ATL) refers shareholders to the Company's news release dated
September 27, 2012 and announces that the transactions pursuant to the interim implementation agreement (the "first phase agreement") with Anglo American Platinum Limited have been closed and implemented.
This series of transactions comprises the first phase of the Company's restructuring, recapitalization and refinancing plan (the "Restructure Plan"), its wholly owned subsidiary, Plateau Resources Pty Ltd, as well as the Bokoni group of companies.
The second phase of the Restructure Plan remains subject to finalization of definitive agreements with respect to such transactions, as well as obtaining the necessary shareholder and regulatory approvals, including from the Department of Mineral Resources,
South Africa, applicable stock exchanges and other regulatory bodies.
Shareholders are reminded that the Company remains under cautionary until the definitive agreements relating to the second phase of the Restructure Plan have been executed and its financial effects have been finalized. The financial effects of the first phase agreement are being finalized and will be announced in due course.
For further information regarding the first phase agreement, which constitutes a "related party transaction" for purposes of Multilateral Instrument 61-101 -
Protection of Minority Securityholders in Special Transactions, shareholders are referred to the material change report dated
September 27, 2012 and available on SEDAR at
Cautionary and forward-looking information This news release contains "forward-looking statements" that are based on management's expectations, estimates and projections as of the current date, including statements relating to the Bokoni group Restructure Plan 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.