JOHANNESBURG, Nov. 5, 2018 /CNW/ - Sibanye Gold Limited trading
as Sibanye-Stillwater ("Sibanye-Stillwater") (JSE:SGL &
NYSE:SBGL) previously announced that it entered into an arrangement
agreement with Regulus Resources Inc. ("Regulus") and a
newly formed subsidiary of Regulus, Aldebaran Resources Inc.
("Aldebaran"), dated effective June
28, 2018, as amended (the "Arrangement Agreement"),
creating a strategic partnership in order to unlock value at its
Altar copper-gold project in San Juan Province, Argentina (the "Altar Project"). The
Arrangement Agreement provides for, among other matters, the spin
out by Regulus of its Argentine assets into Aldebaran and the entry
by Aldebaran into an option and joint venture agreement with
Stillwater Canada LLC, a wholly-owned subsidiary of
Sibanye-Stillwater ("Stillwater
Canada"), pursuant to which Aldebaran acquires the right
to acquire up to an 80% interest in Peregrine Metals, a
wholly-owned subsidiary of Sibanye-Stillwater, which owns the Altar
Project (the "Arrangement"). Aldebaran issued
15,449,555 common shares to Stillwater
Canada as partial consideration under the Arrangement, which
was completed on October 25, 2018.
The common shares of Aldebaran were listed and commenced trading on
the TSX Venture Exchange on November 2,
2018.
Following the completion of the transaction, Sibanye-Stillwater,
indirectly through Stillwater
Canada, has ownership and control of 15,449,555 common
shares of Aldebaran, representing 19.9% of the outstanding common
shares of Aldebaran. Sibanye-Stillwater did not previously
hold any securities of Aldebaran.
The common shares of Aldebaran owned and controlled by
Sibanye-Stillwater are held for investment purposes and
Sibanye-Stillwater may, from time to time, depending on market and
other conditions, or as future circumstances may dictate, acquire
additional common shares of Aldebaran, dispose of some or all of
its common shares of Aldebaran, or continue to hold its common
shares of Aldebaran.
This press release is issued pursuant to early warning
requirements of National Instrument 62-104 and National Instrument
62-103, which also requires a report to be filed with regulatory
authorities in each of the applicable provincial securities
jurisdictions in Canada,
containing additional information with respect to the foregoing
matters (the "Early Warning Report"). A copy of the Early
Warning Report will appear under the profile of Aldebaran on the
SEDAR website at www.sedar.com. Aldebaran's head office is located
at Suite 2300, 177 West Hastings Street, Vancouver, BC, Canada V6E 2K3.
SOURCE Sibanye Gold Limited