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Eastern Platinum Limited Receives Approval from South Africa Competition Commission Regarding Rights Offering Transaction
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2023) - Eastern Platinum Limited (TSX:...
About this update from Eastern Platinum Limited
[{"type":"text","content":"Eastern Platinum Limited Receives Approval from South Africa Competition Commission Regarding Rights Offering TransactionVancouver, British Columbia--(Newsfile Corp. - November 7, 2023) - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (\"Eastplats\" or the \"Company\") has obtained approval from the South Africa Competition Commission regarding the acquisition of common shares of the Company by Ka An Development Co. Limited pursuant to the rights offering (see news release of May 8, 2023) (the \"Transaction\"), subject to establishment of an employee share ownership program (\"ESOP\"), which will hold at least 5% of Barplats Mines (Pty) Limited (\"Barplats\") and will be established within 6 months from Barplats attaining a steady state of certain run of mine tonnages for a period of six consecutive months. About Eastern Platinum LimitedEastplats 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 situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore. Operations at the Crocodile River Mine currently include re-mining and processing its tailings resource to produce PGM and chrome concentrates from the Barplats Zandfontein tailings dam. www.eastplats.comFor further information, please contact: EASTERN PLATINUM LIMITEDWylie Hui, Chief Financial Officer and Corporate [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\"...