Placement of US$17.4mn convertible bond

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM CANADA, JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

22 April 2016

Atlas Mara Limited places furtherUS$17.4 million 8.00% senior secured convertible bonds due 2020

Atlas Mara Limited ("Atlas Mara") has placed a further US$17,400,000 of its 8.00% senior secured convertible notes due 2020 convertible into the ordinary shares of Atlas Mara at a price of $11.00 per share (the "Bonds"). In connection with the placing, one of Atlas Mara's subsidiaries subscribed for US$6,000,000 of Bonds to facilitate, by way of a parallel structure, investment by selected African investors; therefore, Atlas Mara will not receive proceeds from this portion until the related subscriptions are completed, which are expected shortly. 

The Bonds will be issued at an issue price of 84.0% of their principal amount and will be consolidated and form a single series with the US$63,400,000 8.00% secured convertible bonds due 31 December 2020 issued by Atlas Mara in October 2015.

Atlas Mara will use the net proceeds of the issue of the Bonds to fund near-term acquisition opportunities and for general corporate purposes.

Cautionary Statement

The securities being offered by Atlas Mara Limited will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.