Mr. Wylie Hui reports
EASTERN PLATINUM LIMITED RECEIVES APPROVAL FROM SOUTH AFRICA COMPETITION COMMISSION REGARDING RIGHTS OFFERING TRANSACTION
Eastern Platinum Ltd. has obtained approval from the South Africa Competition Commission regarding the acquisition of common shares of the company by Ka An Development Co. Ltd. pursuant to the rights offering (see news release of May 8, 2023), subject to establishment of an employee share ownership program (ESOP), which will hold at least 5 per cent of Barplats Mines Pty. Ltd. and will be established within six months from Barplats attaining a steady state of certain run of mine tonnages for a period of six consecutive months.
About Eastern Platinum Ltd.
Eastplats owns directly and indirectly a number of platinum group metals (PGM) and chrome assets in the Republic of South Africa.
We seek Safe Harbor.
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