Business
Eastern Platinum Limited Announces Rights Offering to Fund Growth Opportunities
Vancouver, British Columbia--(Newsfile Corp. - March 24, 2023) - Eastern Platinum Limited (TSX: E...
About this update from Eastern Platinum Limited
[{"type":"text","content":"Eastern Platinum Limited Announces Rights Offering to Fund Growth OpportunitiesVancouver, British Columbia--(Newsfile Corp. - March 24, 2023) - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (\"Eastplats\" or the \"Company\") today announced the offering to its shareholders (the \"Rights Offering\") of rights (the \"Rights\") to acquire common shares of the Company (\"Common Shares\") at the close of business on the record date of Thursday, April 6, 2023 (\"Record Date\"), on the basis of one Right for each Common Share held. Each Right will entitle the holder to subscribe for one Common Share of the Company upon payment of the subscription price of Cdn$0.11 or ZAR 1.4564 (145.64 South African cents) (based on the Applicable Exchange Rate as defined in the Rights Offering Circular) per Common Share (the \"Basic Subscription Privilege\"). Shareholders who fully exercise their Rights under the Basic Subscription Privilege will also be entitled to subscribe for additional Common Shares, on a pro rata basis, if available as a result of unexercised Rights prior to the expiry time of the Rights Offering (the \"Additional Subscription Privilege\").The Rights will be listed and posted for trading on the Toronto Stock Exchange (the \"TSX\") under the symbol \"ELR.RT\" on a \"when issued\" basis, and the Johannesburg Stock Exchange (the \"JSE\") under the symbol \"EPSN\" at 9:00 a.m. SAST on Tuesday, April 4, 2023. The Rights Offering will close at 12:00 p.m. in South Africa and 2:00 p.m. (Vancouver time)/5:00 p.m. (Toronto time) (the \"Expiry Time\") on Friday, May 5, 2023, after which time unexercised Rights will be void and of no value. The Rights will be issued only to shareholders on the Record Date (the \"Eligible Holders\") who are resident in a province or territory of Canada or in South Africa (the \"Eligible Jurisdictions\"). Shareholders will be presumed to be resident in the place shown on the corporate share registry or securities register (as the case may be), unless the contrary is shown to the Company's satisfaction. Neither the Offering Notice (defined below), nor the Rights Offering Circular (defined below) is to be construed as an offering of the Rights, and the Common Shares issuable upon exercise of the Rights are not offered for sale in any jurisdiction outside of the Eligible Jurisdictions, including in the United S...