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EASTERN PLATINUM LIMITED - Eastplats Announces Late Filing Of Annual Financial Statements And Management Cease Trade Order

Release Date: 05/04/2017 08:52
Code(s): EPS     PDF:  
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Eastplats Announces Late Filing Of Annual Financial Statements And Management Cease Trade Order


EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA2768555096
Share Code JSE: EPS ISIN: CA2768555096
(“Eastplats” or the “Company” or “the Group”)

April 5, 2017
Trading Symbol: ELR (TSX); EPS (JSE)

                                NEWS RELEASE

        EASTPLATS ANNOUNCES LATE FILING OF ANNUAL FINANCIAL STATEMENTS AND
                         MANAGEMENT CEASE TRADE ORDER

April 5, 2017, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”)
announces that it did not file its annual audited financial statements for the fiscal year ended December 31,
2016 and the related management’s discussion and analysis and Annual Information Form by the deadline
of March 31, 2017. The Company made an application to the provincial securities commissions under
National Policy 12-203 Cease Trade Orders and has received a Management Cease Trade Order (the
“MCTO”) in respect of the late filing. During the MCTO, the general investing public will continue to be
able to trade in the Company's listed common shares. However, the Company's Chief Executive Officer,
Chief Financial Officer and such other directors, officers and persons as determined by the applicable
regulatory authorities, will not be able to trade the Company's shares.

The Company was unable to file its audited annual financial statements by the prescribed deadline because
the Company’s Auditor has advised that it will not be able to deliver its audit report until the previously
disclosed investigation into certain transactions entered into by former management of the Company is
further advanced. Further details on the investigation are referred to in the Company’s Q3 2016
management’s discussion and analysis and related press release dated November 14, 2016 (see
www.sedar.com). The Company and its Audit Committee are working with its auditors and will continue
to fully cooperate to provide any and all information as soon as possible.

The Company currently expects to file its audited financial statements for the fiscal year ended December
31, 2016 and the related management’s discussion and analysis as soon as practicable. Until then, the
Company intends to comply with the provisions of the alternative information guidelines as set out in
National Policy 12-203 for as long as it remains in default, including the issuance of bi-weekly default
status reports, each of which will be issued in the form of a news release.

For further information, please contact:
 EASTERN PLATINUM LIMITED
 Rowland Wallenius, Chief Financial Officer and Corporate Secretary
 rwallenius@eastplats.com (email)
 (604) 800-8200 (phone)

Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as
“forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include,
without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are
statements that are not historical facts and are generally, but not always, identified by the words “will”, “plan”, “intends”, “may”,
“will”, “could”, “expects”, “anticipates” and similar expressions.

In particular, this press release contains forward-looking statements pertaining to Eastplats’ filing of annual financial statements
for the fiscal year ended December 31, 2016 and the related management’s discussion and analysis. These forward-looking
statements are based on assumptions made by and information currently available to the Company. Although management
considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By
their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue
reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives,
expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to,
unfavourable changes in regulatory structures, general risks associated with business, failure to complete the audit in a timely
manner, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations
in foreign countries.

The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable
securities laws, the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

JSE Sponsor:

PSG Capital

Date: 05/04/2017 08:52:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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