EASTERN PLATINUM LIMITED - Eastern Platinum Limited Announces Rights Offering Important Dates And Times In Respect Of The Rights Offering

Eastern Platinum Limited Announces Rights Offering – Important Dates And Times In Respect Of The Rights Offering

 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

December 11, 2020


                                                  NEWS RELEASE
                  EASTERN PLATINUM LIMITED ANNOUNCES RIGHTS OFFERING – IMPORTANT DATES AND
                                      TIMES IN RESPECT OF THE RIGHTS OFFERING
                   
           Not for distribution to U.S. news wire services or dissemination in the United States.

December 11, 2020, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the
“Company”) today announced the offering to its shareholders (the “Rights Offering”) of rights (the
“Rights”) to acquire common shares of the Company (“Common Shares”) at the close of business on the
record date of December 18, 2020 (“Record Date”), on the basis of one Right for each Common Share
held. Each Right will entitle the holder to subscribe for one Common Share of the Company upon payment
of the subscription price of $0.32 or ZAR 3.77136 (based on the Applicable Exchange Rate as defined in
the Rights Offering Circular) per Common Share. Shareholders who fully exercise their Rights under the
Basic Subscription Privilege will also be entitled to subscribe for additional Common Shares, on a pro rata
basis, if available as a result of unexercised Rights prior to the expiry time of the Rights Offering.

Further details of the Rights Offering are contained in the notice of rights offering (the “Rights Offering
Notice”) and the rights offering circular (“Rights Offering Circular”) available under the Company's
profile on SEDAR at www.sedar.com and on their website www.eastplats.com/investors-2/Rights Offering.

Capitalised terms used below and that are not otherwise defined, bear the meanings ascribed to them in the
Rights Offering Circular.

The important dates and times in respect of the Rights Offering are as set out below:
                                                                          
Rights Offering Circular, Rights Offering Notice and news release         December 11, 2020
filed on SEDAR, announced on SENS and published on the
Company’s website at www.eastplats.com (finalization date) prior to
11:00 EST for Shareholders on the TSX and 11:00 SAST for
Shareholders on the JSE
Last day to trade in Common Shares on the JSE in order to participate     December 14, 2020
in the Offering (cum entitlement)
Listing and trading of Rights (Letters of Allocation) commence on the     December 15, 2020
JSE at 09:00 SAST under the JSE share code EPSN and ISIN
CA2768551459
Common Shares commence trading ex-Rights on the JSE at 09:00              December 15, 2020
SAST
Last day to trade in Common Shares on the TSX in order to participate     December 16, 2020
in the Offering (cum entitlement)
Listing and trading of Rights (Letters of Allocation) commence on the     December 17, 2020
TSX at market open under the trading symbol “ELR.RT” and ISIN
CA2768551459
Common Shares commence trading ex-Rights on the TSX at market             December 17, 2020
open.
Record Date for the Offering                                              December 18, 2020
Certificated Shareholders on the JSE will have their Rights (Letters of   December 21, 2020
Allocation) credited to an electronic account held at the JSE Transfer
Secretaries
Dematerialized Shareholders on the JSE will have their accounts at        December 21, 2020
their CSDP or Broker credited with their entitlement
Print and distribute Rights Offering Notice to all Shareholders           December 22, 2020
residents in any province or territory in Canada and South Africa
Print and distribute notice to Ineligible Shareholders                    December 22, 2020
Print and distribute Form of Instruction to Certificated Shareholders     December 22, 2020
on the JSE
Offering opens for Shareholders with Common Shares on the TSX at          December 23, 2020
market open and for Shareholders with Common Shares on the JSE at
09:00 SAST
Last day for trading Rights (Letters of Allocation) on the JSE            January 19, 2021
Form of Instruction in respect of Rights lodged by Certificated           January 19, 2021
Shareholders on the JSE wishing to sell all or part of their Rights
(Letter of Allocation) at the JSE Transfer Secretaries by 12:00 SAST
Listing of Offering Shares and trading therein on the JSE commences       January 20, 2021
Last day for trading Rights on the TSX                                    January 22, 2021
Offering closes at 17:00 EST for Shareholders on the TSX and 12:00        January 22, 2021
SAST for Shareholders on the JSE (Expiry Time)
Deadline for payment to be made and Form of Instruction in respect of     January 22, 2021
Rights to be lodged by Certificated Shareholders at the JSE Transfer
Secretaries or the TSX, as applicable
Record Date for the Rights (Letters of Allocation)                        January 22, 2021
Offering Shares issued and posted to Shareholders in Certificated form    January 25, 2021
on the JSE (where applicable)
CSDP or Broker accounts in respect of Dematerialized Shareholders         January 25, 2021
on the JSE will be updated with Offering Shares and debited with any
payments
Results of Offering published on SENS simultaneously                      January 25, 2021
Refunds transferred to Certificated Shareholders                          January 27, 2021
Listing of Offering Shares and trading therein on the TSX commences       On or about January 28, 2021

Notes:
1.      Shareholders shall be prohibited from transferring their Common Shares between the JSE and the
        TSX share registers from December 15, 2020 to December 18, 2020, both days inclusive.
2.      Shareholders on the JSE share register may not Dematerialize or rematerialize their Common Shares
        from December 15, 2020 to December 18, 2020, both days inclusive.
3.      Any amendments to the important dates and times will be announced on SEDAR and SENS.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGMs and chrome assets in the Republic of South Africa.
All of the Company’s properties are situated on the western and eastern limbs of the Bushveld Complex,
the geological environment that hosts approximately 80% of the world’s PGM-bearing ore.

Operations at the CRM currently include re-mining and processing its tailings resource, with an offtake of
the chrome concentrate from the Barplats Zandfontein UG2 tailings facility (“Retreatment Project”).

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 Company’s ability to raise funds through the
Rights Offering. 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

The Company has a primary listing on the Toronto Stock Exchange and a secondary listing on the JSE
Limited.

JSE Sponsor and Corporate Advisor in South Africa

PSG Capital

Date: 11-12-2020 08:45:00
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