Court Dismisses Petition Seeking Leave to Commence a Derivative Action Against Directors of Eastplats
1080 - 1188 West Georgia St.
Vancouver, BC Canada V6E 4A2
August 29, 2019
Trading Symbol: ELR (TSX); EPS (JSE)
NEWS RELEASE
COURT DISMISSES PETITION SEEKING LEAVE TO COMMENCE A DERIVATIVE ACTION
AGAINST DIRECTORS OF EASTPLATS
August 29, 2019, Vancouver, British Columbia – East ern Platinum Limited (“ Eastplats ” or the
“ Company ”) announces that it has received the written reaso ns 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 com mence 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
[email protected] (email)
(604) 800 -8200 (phone)
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statem ents” or “forward-looking information” (collectivel y referred to herein as
“ forward-looking statements ”) within the meaning of applicable securities legislation. Such forward-looking statements include,
without limitation, forecasts, estimates, expectati ons and objectives for future operations that are s ubject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-lo oking statements are
statements that are not historical facts and are ge nerally, but not always, identified by the words “w ill”, “plan”, “intends”, “may”,
“will”, “could”, “expects”, “anticipates” and simil ar expressions. Further disclosure of the risks and uncertainties facing the
Company and other forward-looking statements are di scussed in the Company’s most recent Annual Informa tion Form available
under the Company’s profile on www.sedar.com.
In particular, this press release contains forward- looking statements pertaining to the potential appe al 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 ava ilable to it, they may prove to be incorrect. By t heir 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 pr ices, lower than expected grades and quantities of resources, need for
additional funding and availability of such additio nal funding on acceptable terms, economic condition s, currency fluctuations,
competition and regulations, legal proceedings and risks related to operations in foreign countries.
All forward-looking statements in this press releas e 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 Ma nagement’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, w hether as a result of new
information, future events or otherwise.
No stock exchange, securities commission or other r egulatory authority has approved or disapproved the
information contained herein.
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