Eastern Platinum Limited

Eastern Platinum Limited

July 17, 2014 17:20 ET

Eastern Platinum Limited Clarifies Effective Trading Date for Its Consolidated Common Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 17, 2014) - Eastern Platinum Limited ("Eastplats" or the "Company") (TSX:ELR)(JSE:EPS) - Further to its news release of July 14, 2014, the Company wishes to announce that its common shares will now commence trading on the Toronto Stock Exchange on a post split and post consolidated basis at the market opening on Monday July 21, 2014, not Friday July 18, 2014 as previously reported.

Pursuant to a special resolution passed by shareholders on June 12, 2014, the Company effected a consolidation of its common shares on a 1,000 old for 1 new basis (the "Consolidation") on July 15, 2015. Shareholders holding less than one full share post-Consolidation are entitled to a cash payment of $0.11 per share of their holdings on a pre-Consolidation basis in lieu of a fractional share, such amount being equal to the average weighted trading price of the pre-Consolidated Shares on the TSX for the ten trading days preceding the effective date of the Consolidation. Following the Consolidation, the Company immediately completed a stock split on the basis of 1 old for 100 new, with fractional shares being rounded to the nearest whole number (the "Stock Split"). The Consolidation and Stock Split achieved a 10 to 1 consolidation and eliminated all of the shareholdings of less than 1,000 pre-Consolidation shares in exchange for the cash payment of $0.11 per share.

The Company's CUSIP and ISIN numbers have changed to 276855509 and CA2768555096, while the trading symbol remains unchanged.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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