Harmony Gold Corp. closes Fundamental Acquisition
#1780 – 355 Burrard St Vancouver, BC V6C 2G8 Tel: 604 608-6611 Fax: 604 608-6620
Trading Symbol: H
Harmony Gold Corp. closes Fundamental Acquisition
Vancouver, British Columbia, October 18, 2012 – Harmony Gold Corp. (TSX-V: H)(the “Company”) is pleased to announce that following TSX Venture Exchange (the “Exchange”) final approval, the Company has closed its fundamental acquisition (the “Acquisition”) which was originally announced on August 16, 2012.
Transaction Summary
The Company has acquired all of the issued and outstanding shares of a B.C. private company formerly called “Pure Energy Minerals Limited” (“Private Co”) in a one for one exchange of 9,850,001 common shares of Private Co at a deemed price of $0.05 per common share. The Company has issued 9,850,001 to the former shareholders of Private Co.
As a result of the Acquisition, the Company assumed the option to acquire an 80% undivided interest in the AF 1-47 claims, an early stage lithium exploration project. The property is comprised of association placer claims located in Nevada (the “Property”). The option is held under an option agreement (the “Option Agreement”) between GeoXplor Corp. and Private Co., whose obligations under the Option Agreement were assumed by the Company on closing of the Acquisition.
In connection with the Acquisition, the Company has completed a private placement (the “Private Placement”) for gross proceeds of $600,000. For more information about the Private Placement, please see the Company’s news release dated October 15, 2012.
On closing of the Acquisition, Mr. Jason Dussault was appointed as Chief Executive Officer and a director of the Company. Mr. Michael Dake resigned as Chief Executive Officer and remains as an independent director of the Company.
The Company has filed change of name documentation with the Exchange and expects to begin trading under the name “Pure Energy Minerals Limited” with the symbol “PE” on Monday, October 22, 2012.
PURE ENERGY MINERALS LIMITED
Per: “Jason Dussault”
Jason Dussault Chief Executive Officer Telephone: 604 608-6611 E-mail: [email protected] NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented constitutes “forward looking statements”. Such forward-looking statements, including but not limited to those with respect to the closing of the Acquisition, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.