Hebei Zhongbo Platinum Co. Limited to Purchase the South African PGM Assets of Eastern Platinum Limited

Abstract

(Marketwired - Nov. 7, 2014) - Eastern Platinum Limited ("Eastplats" or the "Company") (TSX:ELR)(JSE:EPS) today announced that it has reached an agreement with Hebei Zhongbo Platinum Co. Limited ("Hebei Zhongbo") whereby Hebei Zhongbo will acquire the Company's entire South African platinum group metal ("PGM") business and all loan agreements that Eastplats has with its subsidiary companies, for a total consideration of US$225 million payable in cash on closing (the "Acquisition"). The consideration received by Eastplats will be net of the amounts payable to certain minority interests, which amounts remain to be settled.