/NOT FOR DISSEMINATION IN THE
UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES./
Trading Symbol: ELR (TSX); EPS (JSE)
VANCOUVER, Aug. 29, 2019 /CNW/ - 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.
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 potential appeal 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 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.
SOURCE Eastern Platinum Limited