Last updated on April 20, 2014 at 17:20 EDT

Competition Commission approval received by Wits Gold for the acquisition of Southgold Exploration Proprietary Limited

August 28, 2013


(Incorporated in the Republic of South Africa)

Registration Number 2002/031365/06


ISIN: ZAE000079703


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


28 August 2013

Corporate Advisor

Qinisele Resources Proprietary Limited

Lead JSE Sponsor

Macquarie First South Capital Proprietary Limited

JSE Sponsor

PricewaterhouseCoopers Corporate Finance Proprietary Limited

South African Legal Advisor

Brink Falcon Hume Inc

Canadian Legal Advisor

Stikeman Elliot


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

Source: PR Newswire