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Wesizwe Platinum acquires Africa Wide Mineral for C$103 million

Fasken
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Overview

Client

Wesizwe Platinum Ltd.

Wesizwe Platinum Ltd. has acquired Africa Wide Mineral Prospecting and Exploration (Pty) Ltd. for approximately CDN$103 million. The consideration will be 62,022,901 new Wesizwe common shares at a price of Rand 10.48 per share for total proceeds of Rand 650 million (approximately C$103 million). The purchase gives Wesizwe Platinum a 26 per cent share of the Western Bushveld Joint Venture, a partnership that also includes Anglo Platinum and Platinum Group Metals. Wesizwe Platinum Limited is headquartered in Johannesburg, South Africa, and engages in the exploration and development of mineral properties in South Africa. The Company focuses on the development of platinum group metals comprising mainly of platinum, palladium, rhodium and gold, as well as other metals. Wesizwe Platinum was advised by Fasken Martineau with a team including Andrew Mitchell, David Hoffe, Blaize Vance, Gerald Ramsden, and Conor McFadden.

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