SEDAR - Material ChangeOn October 27, 2016, Eastern Platinum announced the Offering. The common shares to be issued under the Offering will represent approximately 19.9% of the issued and outstanding common shares of Eastern Platinum prior to completion of the Offering.
Eastern Platinum intends to use the net proceeds from the Offering for general working capital purposes, including capital costs to advance Eastern Platinum’s mining assets, which may include prospect work and mine construction.
The common shares issued under the Offering will be subject to a four month hold period. In connection with the Offering, a 5.0% finder’s fee of the aggregate gross proceeds of the Offering in the amount of $516,190.08 will be payable in cash to an arm’s length party, Tier Financial Leasing (China) Co., Ltd. The Offering is subject to the approval of the Toronto Stock Exchange. Closing is expected to occur on or about December 2, 2016.