09:50:10 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Eastern Platinum Ltd (2)
Symbol ELR
Shares Issued 92,639,032
Close 2016-12-08 C$ 0.45
Market Cap C$ 41,687,564
Recent Sedar Documents

Eastplats sued by Hebei over share purchase agreement

2016-12-09 02:33 ET - News Release

Ms. Diana Hu reports

EASTPLATS ANNOUNCES LAWSUIT FILED BY HEBEI ZHONGHENG TIANDA PLATINUM CO. LIMITED

Hebei Zhongheng Tianda Platinum Co. Ltd. (HZT) has filed a notice of civil claim in the B.C. Supreme Court against Eastern Platinum Ltd. 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. 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's discussion and analysis for the period ended Sept. 30, 2016, as filed on the company's SEDAR profile. 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.

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