2022-05-19 | TSX:ELR | Press release

Vancouver, British Columbia–(Newsfile Corp. – May 19, 2022) – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (“Eastplats“or the”Company“) announces that it has received conditional acceptance from the Toronto Stock Exchange to extend the expiration date of 5,960,000 of its outstanding unlisted common equity warrants (the “To guarantees”) originally issued on June 26, 2020, in conjunction with the previously disclosed settlement agreement with AlphaGlobal Capital Inc. For further information regarding the initial issuance of the Warrants, please refer to the Company’s press release dated of June 26, 2020.

Each warrant currently entitles its holder to purchase one common share at a price of C$0.24 per common share at any time until 5:00 p.m. local time in Vancouver, British Columbia on June 26, 2022 ( the “Expiration dateEffective June 3, 2022, the Company will extend the expiration date to June 26, 2023. All other terms of the Warrants remain unchanged.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of platinum group metals (“PGM“) and chrome assets in the Republic of South Africa. All of the Company’s properties are located on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80% of the PGM-bearing ore in the world.

Operations at the Crocodile River mine currently include the re-mining and processing of its tailings resources to produce PGM and chromium concentrates from the Barplats Zandfontein tailings dam.

For more information, please contact:


Wylie Hui, Chief Financial Officer and Corporate Secretary

[email protected] (email)

(604) 800-8200 (phone)

Caution 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 laws. These forward-looking statements include, but are not limited to, forecasts, estimates, expectations and targets for future activities that are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “will”, “plan”, “has “intent”, “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 Annual Information Form and Management’s Discussion and Analysis of the Company which are available under the Company’s profile on www.sedar.com.

In particular, this press release contains forward-looking statements regarding: the extension of the expiry date of the Warrants. These forward-looking statements are based on assumptions made by and on 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 such statements as a number of factors could cause actual results to differ materially from beliefs, plans , objectives, expectations, estimates and intentions expressed in these forward-looking statements. These factors include, but are not limited to, commodity prices, lower than expected qualities and quantities of resources, the need for additional financing, the availability of such additional financing, and whether the financing will be provided to acceptable terms, economic conditions, currency fluctuations, competition and regulations. , legal proceedings and the risks associated with foreign operations.

The forward-looking statements contained in this press release are made as of the date on which they are made and, except as required by applicable securities laws, the Company disclaims any intention or obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124586