Anooraq Announces Results of Annual & Extraordinary General Meetings, Changes to the Board of Directors & Signing of Definitive Funding Agreements



    VANCOUVER, June 16 /CNW/ - Anooraq Resources Corporation ("Anooraq" or
the "Company") (TSXV: ARQ; NYSE Amex:   ANO; JSE: ARQ) announces that all the
resolutions proposed at the annual general meeting ("AGM") held on Monday,
June 15, 2009 were passed by the requisite majorities of votes. The following
directors did not stand for re-election at the AGM: Mr. Scott Cousens, Mr.
Robert Dickinson, Mr. David Elliott and Dr. Popo Molefe. The board wishes to
thank these directors for their contribution to the board and the company over
the past years and to wish each of them every success in their future
endeavours.
    The Company also advises that all the relevant resolutions relating to
the acquisition by Anooraq of, among other things, an effective 51% interest
in Lebowa Platinum Mine ("Lebowa") from Anglo Platinum Limited ("Anglo
Platinum") ("the Acquisition"), as well as the resolutions relating to the
amendments to the stock option plan and the compensation transactions, were
passed by the requisite majorities of votes at the extraordinary general
meeting held immediately after the AGM on Monday, June 15, 2009.
    All of the material agreements relating to the Acquisition, including
definitive funding agreements relating to:

    
    -   the provision of ZAR 750 million (C$103.6 million) of senior debt
        funding by Standard Chartered Bank plc;
    -   the issue of cumulative redeemable "A" preference shares to
        Rustenburg Platinum Mines Limited ("RPM"), a wholly owned subsidiary
        of Anglo Platinum, in order to raise ZAR 1.2 billion
        (C$0.17 billion);
    -   the issue of cumulative convertible "B" preference shares to a
        special purpose financing vehicle established between Anglo Platinum
        and Pelawan in order to raise ZAR 1.1 billion (C$0.15 billion);
    -   the provision by Anglo Platinum of two facilities - an operating cash
        flow shortfall facility of up to a maximum of ZAR 750 million
        (C$103.6 million) and a standby loan facility, comprising up to a
        maximum of 29/49 of RPM's attributable share of the free cash flows
        from Lebowa; and
    -   the provision by Anglo Platinum of approximately ZAR 150 million
        (C$20.7 million) to facilitate the participation of communities and
        Lebowa employees in the transaction have been signed by the relevant
        parties.

    The Company anticipates that the remaining conditions precedent to the
Acquisition will be fulfilled or waived by June 30, 2009 and that the
Acquisition will accordingly become unconditional with effect from July 1,
2009.

    On behalf of the Board of Directors
    Philip Kotze
    President and CEO

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    The NYSE Amex Exchange has neither approved nor disapproved the contents
    of this press release.
    

    Cautionary and Forward Looking Information

    This release includes certain statements that may be deemed "forward
looking statements". All statements in this release, other than statements of
historical facts, that address potential acquisitions, future production,
reserve potential, exploration drilling, exploitation activities and events or
developments that Anooraq expects are forward looking statements. Anooraq
believes that such forward looking statements are based on reasonable
assumptions, including assumptions that: the Transaction will complete; Lebowa
will continue to achieve production levels similar to previous years; Anooraq
will be able to complete its financing strategy on relatively favourable
terms; and the Ga-Phasha and Platreef Project exploration results will
continue to be positive. Forward looking statements however, are not
guarantees of future performance and actual results or developments may differ
materially from those in forward looking statements. Factors that could cause
actual results to differ materially from those in forward looking statements
include market prices, exploitation and exploration successes, changes in and
the effect of government policies with respect to mining and natural resource
exploration and exploitation and continued availability of capital and
financing, and general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future performance
and those actual results or developments may differ materially from those
projected in the forward looking statements. For further information on
Anooraq, investors should review the Company's annual information form filed
on www.sedar.com or its form 20-F with the United States Securities and
Exchange Commission and its other home jurisdiction filings that are available
at www.sedar.com.





For further information:

For further information: on Anooraq and its South African properties,
please visit our website www.anooraqresources.com or call investor services in
South Africa at +27 11 883 0831 or in North America at 1-800-667-2114


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