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Trading Symbol: ELR (TSX); EPS (JSE)
VANCOUVER, Nov. 9, 2018 /CNW/ - Eastern Platinum Limited
("Eastplats" or the "Company") announces that it has
received a petition filed with the Supreme Court of British Columbia, by 2538520 Ontario Limited,
a shareholder of the Company, seeking leave from the court to
commence a derivative action on behalf of the Company against
certain of its current and former directors in relation to the
approval of the transactions between the Company and Union Goal
Offshore Solutions Limited (See News Release of March 5, 2018). The Board of the Company
has formed a Special Committee of three non management Directors to
review the petition and make a recommendation on the appropriate
action.
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.
In particular, this press release contains forward-looking
statements pertaining to: the timing and actions of the Special
Committee of the Board of Directors. 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 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