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BUFFALO COAL CORP.
Registration number: 001891261
External company registration number: 2011/011661/10
Share code on the TSX Venture Exchange: BUF
Share code on the JSE Limited: BUC
ISIN: CA1194421014
("Buffalo Coal" or “Buffalo” or “the Group” or "the Company" or “the Issuer”)
INVESTEC CONSENT RECEIVED FOR ASSIGNMENT OF RCF CONVERTIBLE DEBT
TORONTO, ONTARIO – Newsfile – September 16, 2022: Buffalo Coal Corp 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.
The 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: emma.oosthuizen@buffalocoal.co.za
Registered office:
Greytown Road
Industrial Area, Dundee
KwaZulu-Natal
3000
16 September 2022
Designated advisor:
Questco Corporate Advisory Proprietary Limited
