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EASTERN PLATINUM LIMITED ANNOUNCES ANTICIPATED LATE FILING OF ANNUAL FINANCIAL STATEMENTS
EASTERN PLATINUM LIMITED ANNOUNCES ANTICIPATED LATE FILING OF ANNUAL FINANCIAL STATEMENTS ...
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n \n \n \n EASTERN PLATINUM LIMITED ANNOUNCES ANTICIPATED LATE FILING OF ANNUAL FINANCIAL STATEMENTS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 18, 2024\n \n \n /CNW/ - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (\"\n \n Eastplats\n \n \" or the \"\n \n Company\n \n \") provides this default announcement indicating Eastplats' potential delay in filing its annual financial statements for the year ended\n \n December 31, 2023\n \n and related management discussion and analysis and certifications (collectively, the \"\n \n Financial Statements\n \n \"), the annual information form for the fiscal year ended December\n \n \n 31, 2023, and the CEO and CFO certificates relating to the Financial Statements (the \"\n \n Required\n \n \n Filings\n \n \") beyond the prescribed filing deadlines.\n \n \n \n \n \n \n \n \n \n The Company's potential delay in filing its Required Filings on time is due to the following circumstances:\n \n \n \n On or about\n \n April 24, 2023\n \n , the Company received unproven whistleblower allegations, including allegations of undisclosed related party transactions pertaining to the sale of chrome concentrate at discounted prices (the \"Allegations\"). The board of directors of the Company (the \"\n \n Board\n \n \") determined that it was in the best interests of the Company to form a special committee (the \"\n \n Committee\n \n \") consisting of two independent directors,\n \n George Graham Dorin\n \n and\n \n Xin (Alex) Guan\n \n , responsible for conducting an investigation, review and analysis of the Allegations. On or about\n \n December 11, 2023\n \n , the Committee completed its investigation. With assistance from independent counsel engaged and a third-party e-discovery specialist to assist with the investigation, the Committee found the Allegations advanced by the whistleblowers to be unsubstantiated. As a result, the auditors did not accept an audit continuance engagement by the Company until such investigation was complete and its conclus...