Toronto, Ontario--(Newsfile Corp. - April 17, 2023) - Buffalo Coal Corp. (TSXV: BUF) (the "Company") is pleased to announce that the shareholders of the Company have approved the special resolutions to commence the process of taking the Company private as set out in the Company's March 15, 2023 press release and information circular dated March 14, 2023 (the "Circular").
The effective date for the going private transaction will be April 20, 2023, or such other date as the Company may advise by way of a further press release, and the common shares of the Company will be delisted from trading on the TSX Venture Exchange (the "TSXV") on April 21, 2023 and on the Alternative Exchange managed by JSE Limited (the "JSE") on April 28, 2023. Payment for the post-consolidation fractional shares, other than those held by Belvedere Resources DMCC, will be distributed to shareholders on the TSXV who have delivered letters of transmittal with any accompanying documents required thereby by TSX Trust Company and to shareholders on the JSE by Computershare Investor Services Proprietary Limited, in each case in accordance with the process set out in the Circular.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Buffalo Coal
Buffalo is a coal producer in South Africa. It holds a majority interest in two operating mines through its 100% interest in BCD, a South African company which has a 70% interest in Zinoju Coal Proprietary Limited ("Zinoju"). Zinoju holds a 100% interest in the Magdalena bituminous mine, the Aviemore East anthracite mine and the Balgray and North Adit anthracite projects in South Africa. Buffalo Coal has an experienced coal-focused Board and Management team.
Forward-Looking Statements
This press release may contain forward looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ms. Emma Oosthuizen
Chief Financial Officer
Tel: 27 342121455
Email: emma.oosthuizen@buffalocoal.co.za
Registered Office:
Greytown Road
Industrial Area, Dundee
KwaZulu-Natal, 3000
April 17, 2023
Designated Advisor: Questco Corporate Advisory Proprietary Limited
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162689
