Eastplats Receives Reasons for Judgment Regarding a Derivative Action
Eastplats Receives Reasons for Judgment
Regarding a Derivative Action
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2023) - Eastern Platinum Limited (TSX: ELR)
(JSE: EPS) ("
Eastplats
" or the "
Company
") has received the written reasons for judgment of the
Supreme Court of British Columbia in the petition of shareholder, Xiaoling Ren, seeking leave to
commence a derivative action on behalf of the Company against certain of the former and current
directors in relation to the transactions between the Company and Union Goal Offshore Solutions
Limited (see news release of December 31, 2020). The court has denied leave to bring an action
against all but one director, granting leave to Ms. Ren to bring a derivative action only as against former
director and CEO, Diana Hu. There is a limited period within which either party may appeal the court's
decision.
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", "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 timing and actions
of 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.
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/164945