BUFFALO COAL CORP. ANNOUNCES RIGHTS OFFERING

Toronto, Ontario—(Newsfile Corp. – November 4, 2022) – Buffalo Coal Corp. (the “Company” or “Buffalo Coal”) (TSXV:BUF) (JSE:BUC) announced that it will be offering rights (the “Rights Offering”) to holders of its common shares - for further information visit our Investors page http://www.buffalocoal.co.za/investors or download documents below.

1) Rights Offering News Release
2) Rights Offering Notice
3) Rights Offering Circular
4) Rights Offering Form Of Instruction
5) Rights Offering Exempt Purchaser Certificate

 

TRI-PARTITE AGREEMENT BETWEEN THE GROUP, INVESTEC AND BELVEDERE

TORONTO, ONTARIO – Newsfile - October 5, 2022: Buffalo Coal Corp. (TSXV: BUF) advises its shareholders that its wholly-owned subsidiary, Buffalo Coal Dundee Proprietary Limited (“BCD”) concluded a tri-partite agreement with Investec Bank Limited (“Investec”) and Belvedere Resources DMCC (“Belvedere"), pursuant to which:

  • BCD would continue to pay Investec the scheduled monthly capital repayments under the Credit Facility Agreement (the “Agreement”), as agreed to with Investec on March 30, 2022;
  • BCD undertakes to pay Investec the remaining amounts outstanding under the Agreement between BCD and Investec, in full on November 30, 2022 (or such later date as may be agreed by Investec in writing); and
  • Belvedere undertakes to directly or indirectly advance funds to BCD, if the latter cannot fully meet the monthly capital repayment obligations to Investec, as outlined in the Agreement.

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.

The Company has its primary listing on the TSX Venture Exchange and has a secondary listing on the Alternative Exchange, operated by the JSE Limited.

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 Oosthhuizen
Chief Executive Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Registered office:
Greytown Road
Industrial Area
Dundee
Kwazulu-Natal
3000

October 5, 2022

 



INVESTEC CONSENT RECEIVED FOR ASSIGNMENT OF RCF CONVERTIBLE DEBT

TORONTO, ONTARIO – Newsfile- September 15, 2022: Buffalo Coal Corp. advises, advises its shareholders that Belvedere Resources DMCC (“Belvedere") has received written consent from Investec Bank Ltd to assign the convertible debt (“the Loan”) of USD 27,000,000 (twenty-seven million United States dollars) purchased from Resource Capital Fund V L.P. (“RCF”) for a consideration of USD 2,000,000 (two million United States dollars) (“the Transaction”) in Belvedere’s favour.

This transaction was first announced on June 15, 2022 and the Company is now in the process of transferring the Loan from RCF to Belvedere.

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 Buffalo Coal Dundee Proprietary Limited, 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.

The Company has its primary listing on the TSX Venture Exchange and has a secondary listing on the Alternative Exchange, operated by the JSE Limited.

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 Executive Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Registered office:
Greytown Road
Industrial Area
Dundee
Kwazulu-Natal
3000

September 15, 2022