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Eastplats announces lawsuit filed by Hebei Zhongheng Tianda Platinum Co. Limited
Eastplats announces lawsuit filed by Hebei Zhongheng Tianda Platinum Co. Limited E...
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n\n\n\nEastplats announces lawsuit filed by Hebei Zhongheng Tianda Platinum Co. Limited\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nEastplats announces lawsuit filed by Hebei Zhongheng Tianda Platinum Co. Limited\nCanada NewsWire\nVANCOUVER, Dec. 9, 2016\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/\n\nTrading Symbol: ELR (TSX); EPS (JSE)\n\n\n\nVANCOUVER, Dec. 9, 2016 /CNW/ - Eastern Platinum Limited (\"Eastplats\" or the \"Company\") announces that Hebei Zhongheng Tianda Platinum Co. Limited (\"HZT\") has filed a notice of civil claim in the British Columbia Supreme Court against the Company and several of its subsidiaries with respect to an alleged repudiation and breach of the share purchase agreement dated June 28, 2016 entered into with HZT by former management of the Company (the \"Purchase Agreement\").  Further details with respect to the terms and conditions of the Purchase Agreement and related transactions are described in the Company's prior filings, including its management discussion and analysis for the period ended September 30, 2016, as filed on the Company's SEDAR profile at www.sedar.com.  The action seeks, among other relief, specific performance of the Purchase Agreement or damages in lieu thereof and costs.  The Company intends to vigorously defend against the action and to refute many of the facts and allegations made in the claim.  Once the Company and its subsidiaries have been formally served with the claim they will respond in due course.  \n\nCautionary Statement Regarding Forward-Looking Information\n\nThis 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 ...