Eastplats Announces Changes to the Board of Directors
Eastplats Announces Changes to the Board of
Directors
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2022) - Eastern Platinum Limited (TSX: ELR)
(JSE: EPS) ("Eastplats" or the "Company") announces the Board of Directors of the Company (the
"Board") has accepted the respective resignations submitted by Diana Hu and Michael Cosic, effective
June 22, 2022, in accordance with the Company's Majority Voting Policy (the "Policy").
George Dorin, Chairman of the Company, stated, "On behalf of Eastplats, I would like to thank Ms. Hu
and Mr. Cosic for their many insights and contributions to the Board over the last six years and we wish
them the very best. Ms. Hu will remain the CEO & President of Eastplats and we will continue to focus on
guiding the Company to restart Zandfontein underground mining in 2022."
The Company is pleased to announce the appointments of Mr. Changyu (Charlie) Liu and Ms. Lisa Ng to
the Board, to fill the vacancies left by Ms. Hu and Mr. Cosic.
Mr. Liu is the Chairman of Ka An Development Co. Limited ("Ka An"), a long-term shareholder of
Eastplats. Mr. Liu's career has been focused on business investments and international trade in China,
Hong Kong, and North America. After completing his studies in accounting at Tianjin University of
Finance and Economics in 1994, Mr. Liu started his career in the automobile sales and distribution
sector. He was an early partner and investor in renowned technology companies. A decade ago, Mr. Liu
began following the global mining industry. His current investments span across mining, automobile
sales, banking, and shipping industries. Mr. Liu brings over two decades of expertise in business
investment and financing enterprises. Ka An continues to be fully committed to ensuring the successful
management and operation of the Company.
Ms. Ng is an accomplished CPA (Chartered Professional Accountant) with an extensive financial
management background, including with several publicly traded mining companies. She has over 25
years of experience in mining, information technology, biotech, insurance,
in a wide range of business
sectors including the financial operations of multi-million dollar companies.
"On behalf of management, we are excited and welcome Mr. Liu and Ms. Ng to the Board," commented
Ms. Hu.
"This will result in the Board being completely independent from management and will provide
the Board with the insights, experiences and perspectives of a significant, long-term shareholder of the
Company. We are confident that we can work together to increase the value of Eastplats."
For further information, please contact:
EASTERN PLATINUM LIMITED
Wylie Hui, Chief Financial Officer and Corporate Secretary
(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", "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, without limitation, forward-looking statements pertaining to: the
ability of the Company to restart Zandfontein underground mining, to do so in 2022, potential
contributions of Mr. Liu and Ms. Ng to the Board and any potential value of Eastplats. 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 the Company's
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/128673