Business
EASTERN PLATINUM LIMITED ANNOUNCES TERMS OF OFFERING
EASTERN PLATINUM LIMITED ANNOUNCES TERMS OF OFFERING
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n\n\n\n Nov. 23, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ \n\n\nTrading Symbol: ELR (TSX & AIM) EPS (JSE)\n\n\nVANCOUVER, Nov. 23 /CNW/ - Eastern Platinum Limited (TSX: ELR, AIM: ELR,\n JSE: EPS) (the "Company") announced today that it has entered into an\n underwriting agreement with a syndicate of underwriters led by\n Canaccord Genuity Corp. and UBS Securities Canada Inc. and including\n GMP Securities LP, Goldman Sachs Canada Inc., Raymond James Ltd. and\n Paradigm Capital Inc. to sell 195,000,000 common shares at a price of\n C$1.55 per share to raise gross proceeds of C$302,250,000 pursuant to a\n short form prospectus (the "Offering"). The Company has granted the underwriters an over-allotment option to\n purchase that number of additional common shares equal to up to 15% of\n the common shares sold pursuant to the Offering, exercisable at any\n time up to 30 days after the closing of the Offering.\n\n\nThe Company intends to use the net proceeds of the Offering to fund\n Phase 1 of the Eastern Limb development plan as well as for general\n working capital purposes.\n\n\nThe Offering is expected to close on or about December 8, 2010.\n\n\nTrading in the Company's shares is anticipated to resume on both the AIM\n market of the London Stock Exchange and on the Johannesburg Stock\n Exchange on Tuesday, November 23, 2010 at 3.30 pm (GMT).\n\n\nEaste...