Competition Commission approval received by Wits Gold for the acquisition of Southgold Exploration Proprietary Limited
WITWATERSRAND CONSOLIDATED GOLD RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
JSE Code: WGR
TSX Code: WGR
CUSIP Number: S98297104
("Wits Gold" or the "Company")
JOHANNESBURG, Aug. 28, 2013 /CNW/ - Further to the announcements released by the Company on SENS and on SEDAR dated Friday, 21 June 2013, Friday, 5 July 2013, and 19 August 2013 (the definitions set out in the announcements applying to this announcement unless otherwise stated), Wits Gold is pleased to advise that it has received notification that the Proposed Transaction was approved without any conditions by the South African Competition Commission.
Wits Gold is continuing to progress towards finalisation of the Transaction Agreements and will continue keeping shareholders informed of developments as they occur. Shareholders are reminded that the Proposed Offer and the implementation of the Proposed Transaction are each subject to and conditional upon the fulfilment of, or waiver by Wits Gold of conditions precedent standard to a transaction of this nature, including but not limited to entering into definitive Transaction Agreements, obtaining all necessary shareholder and regulatory approvals, and Wits Gold obtaining the necessary financing arrangements.
28 August 2013
Qinisele Resources Proprietary Limited
Lead JSE Sponsor
Macquarie First South Capital Proprietary Limited
PricewaterhouseCoopers Corporate Finance Proprietary Limited
South African Legal Advisor
Brink Falcon Hume Inc
Canadian Legal Advisor
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Wits Gold, the timing and terms and conditions of the Proposed Offer and Proposed Transaction, as well as the contemplated benefits from the Proposed Transaction. Readers are cautioned not to place undue reliance on forward-looking information. Forward‐looking information involves known and unknown risks, uncertainties and other important factors that could cause actual results and developments to differ materially from those contemplated by this information. Such risks, uncertainties and other important factors include among others: the ability to obtain the necessary shareholder and regulatory approvals; the ability to obtain the necessary financing on satisfactory terms, or at all; the ability to satisfy all other conditions precedent to the Proposed Transaction; economic, business and political conditions in South Africa; decreases in the market price of gold; hazards associated with underground and surface gold mining; and changes in laws and government regulations. The statements in this press release are made as of the date of this release. You should not place undue importance on forward‐looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update publicly or release any revisions to these forward‐looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events except where required by applicable laws.
SOURCE Wits Gold