EASTERN PLATINUM LIMITED - Eastern Platinum Limited Initiates Litigation

Release Date: 07/06/2018 08:45
Code(s): EPS
 
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Eastern Platinum Limited Initiates Litigation

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


June,7 2018

Trading Symbol: ELR (TSX); EPS (JSE)

                                            NEWS RELEASE

                          EASTERN PLATINUM LIMITED INITIATES LITIGATION

June 7, 2018, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”) announces
that it along with Eastplats Acquisition Co. Ltd, and Eastern Platinum Holdings Limited (collectively, along with
Eastplats, the “Eastplats Companies”) has filed notices of civil claim related to two separate actions in the British
Columbia Supreme Court.

The first claim is brought against Serina Services AG (“Serina”) and Ingwenya Incorporated (“Ingwenya”) in relation
to the payment of the $13,666,609 USD to them from the Eastplats Companies. The claim alleges that the agreements
between those corporations and the Eastplats Companies are not binding, that the funds were not properly received by
them, are an unjust enrichment to them and should be returned.

The second claim is brought against certain former officers and directors of Eastplats. It alleges that the former officers
and directors purported to enter into agreements with Serina and Ingwenya on behalf of the Eastplats Companies
pursuant to which $13,666,609 USD was transferred to Serina and Ingwenya without consideration, without
conditions precedent for delivery of the funds being met, and without any apparent benefit to the Eastplats Companies.
The Eastplats Companies are seeking damages from the former directors and officers on a number of legal grounds.

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. Further disclosure of the risks and uncertainties facing the Company and other forward-looking
statements are discussed in the Company’s Annual Information Form and Management’s Discussion and Analysis
which are available under the Company’s profile on www.sedar.com.

In particular, this press release contains forward-looking statements pertaining to civil claims seeking damages and
return of funds to the Company. 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,
commodity prices, 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

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