Eastern Platinum Limited
TSX : ELR
AIM : ELR
JSE : EPS

Eastern Platinum Limited

December 30, 2010 09:21 ET

Eastern Platinum Completes CDN$348 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 30, 2010) -

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Eastern Platinum Limited (the "Company") (TSX:ELR)(AIM:ELR)(JSE:EPS) is pleased to announce that it has completed its previously announced Cdn.$347,587,500 equity financing (the "Offering"). A total of 224,250,000 common shares, including the exercise of the full over-allotment option, has been issued today at a price of C$1.55 per share to a syndicate of underwriters led by Canaccord Genuity Corp. and UBS Securities Canada Inc., and including GMP Securities LP, Goldman Sachs Canada Inc., Raymond James Ltd. and Paradigm Capital Inc.

The common shares were sold by way of a short form prospectus in each of the provinces and territories of Canada other than Quebec.

Application has been made for the new common shares to be admitted for trading on AIM and trading is expected to commence at 8:00am on December 31, 2010. The new common shares will rank pari passu with the existing common share capital of the Company.

Eastern Platinum Limited is a platinum group metals (PGM) producer engaged in the acquisition, development and mining of PGM properties located in various provinces in South Africa. All of the Company's properties are situated on the western and eastern limbs of the Bushveld Complex, the geological environment that supports over 70% of the world's PGM supply.

Total shares issued and outstanding – 907,589,534 (post-closing of the Offering)

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