Business
Court Dismisses the Appeal of Petition Seeking Leave to Commence a Derivative Action Against Directors of Eastplats
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2020) -  Eastern Platinum Lim...
About this update from Eastern Platinum Limited
[{"type":"text","content":"Court Dismisses the Appeal of Petition Seeking Leave to Commence a Derivative Action Against Directors of EastplatsVancouver, British Columbia--(Newsfile Corp. - November 17, 2020) -  Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (\"Eastplats\" or the \"Company\") announces that it has received the written reasons for judgment of the Court of Appeal for British Columbia dismissing the appeal of the petition filed by 2538520 Ontario Limited, seeking leave to commence a derivative action 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 Company is pleased with the Appeals Court dismissal. Eastplats can renew its efforts to focus on its current operations and other opportunities in South Africa,\" commented Ms. Diana Hu, the Company's President and Chief Executive Officer. For further information, please contact: EASTERN PLATINUM LIMITEDRowland Wallenius, Chief Financial [email protected] (email)(604) 800-8200 (phone)Cautionary Statement Regarding Forward-Looking InformationThis 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 Company's activities, operations and other activity in South Africa. These forward-looking statements are based on assumptions made by and information currentl...