August 29, 2019
Trading Symbol: ELR (TSX); EPS (JSE)
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 and Corporate Secretary
(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 forwardlooking 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 the vesting and expiry of stock options issued by 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 forwardlooking 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.
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