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Eastplats Completes Settlement Regarding CRM Share Purchase Agreement and Obtains Return of Escrow Funds
Eastplats Completes Settlement Regarding CRM Share Purchase Agreement and Obtains Return o...
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n\n\n\nEastplats Completes Settlement Regarding CRM Share Purchase Agreement and Obtains Return of Escrow Funds\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\n\nCanada NewsWire\nVANCOUVER, Nov. 24, 2017\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, Nov. 24, 2017 /CNW/ - Eastern Platinum Limited (\"Eastplats\" or the \"Company\") is pleased to report that it has completed a settlement agreement with Hebei Zhongheng Tianda Platinum Co. Limited (\"HZT\").  The settlement confirms the termination of the June 28, 2016 Crocodile River Mine Share Purchase Agreement (the \"Share Purchase Agreement\") entered into between HZT, Eastplats and its subsidiaries, dismisses the litigation commenced by HZT and releases each party from any further obligations.  Pursuant to the terms of the settlement, the parties are each entitled to the return of escrow funds posted by them, less a payment by the Company to HZT of $420,000. \n\nDiana Hu stated \"I am pleased to settle this litigation, confirming our ongoing ownership of CRM, refunding over US$4.5 million of our escrow funds and allowing Eastplats to further focus on our development and project work.\" \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 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\" and similar expressions. Further d...