To view the PDF file, sign up for a MySharenet subscription.

EASTERN PLATINUM LIMITED - Court Dismisses Petition Seeking Leave To Commence A Derivative Action Against Directors Of Eastplats

Release Date: 29/08/2019 08:45
Code(s): EPS     PDF:  
 
Wrap Text
Court Dismisses Petition Seeking Leave To Commence A Derivative Action Against Directors Of Eastplats

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”)

August 29, 2019


                                              NEWS RELEASE

COURT DISMISSES PETITION SEEKING LEAVE TO COMMENCE A DERIVATIVE ACTION AGAINST DIRECTORS OF EASTPLATS

August 29, 2019, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the
“Company”) announces that it has received the written reasons for judgment of Mr. Justice Smith of the
Supreme Court of British Columbia dismissing, with costs, the petition filed by 2538520 Ontario Limited,
a shareholder of the Company, seeking leave to commence a derivative action on behalf of the Company
against certain of its current and former directors in relation to the transactions between the Company and
Union Goal Offshore Solutions Limited (See News Releases of November 9, 2018 and February 11, 2019).
The petitioner has a limited period within which it may appeal the court’s decision.

“The Company is pleased with the court’s ruling and looks forward to furthering its retreatment operations
and other opportunities in South Africa” commented Ms. Diana Hu, the Company’s Chief Executive
Officer.

For further information, please contact:

EASTERN PLATINUM LIMITED
Rowland Wallenius, Chief Financial Officer
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 most recent Annual Information Form available
under the Company’s profile on www.sedar.com.

In particular, this press release contains forward-looking statements pertaining to the potential appeal of the above-referenced
litigation and the Company’s activities, operations and other activity in South Africa. 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, unanticipated problems that
may arise in our production processes, commodity prices, lower than expected grades and quantities of resources, need for
additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations,
competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the
“Cautionary Statement on Forward-Looking Information” section contained in the Company’s most recent Management’s
Discussion and Analysis available under the Company’s profile on www.sedar.com. 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, and does not undertake, to 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: 29/08/2019 08:45:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story