ELR Eastern Plat

 
TIDMELR 
 
EASTERN PLATINUM LIMITED ANNOUNCES C$300 MILLION EQUITY FINANCING 
 
 
 
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES 
OR FOR DISSEMINATION IN THE UNITED STATES 
 
Trading Symbol: ELR (TSX & AIM) EPS (JSE) 
 
VANCOUVER, Nov. 22 /CNW/ - Eastern Platinum Limited (TSX: ELR, AIM: ELR, JSE: 
EPS) (the "Company") announced today that it has filed a preliminary short form 
prospectus in connection with an overnight-marketed public offering of common 
shares to raise approximately C$300 million (the "Offering").  The Offering 
will be conducted through a syndicate of underwriters led by Canaccord Genuity 
Corp. and UBS Securities Canada Inc.  The Company is proposing to grant to the 
underwriters an over-allotment option to purchase that number of additional 
common shares equal to up to 15% of the common shares sold pursuant to the 
Offering, exercisable at any time up to 30 days after the closing of the 
Offering.  The Offering is subject to certain conditions, including regulatory 
approval. 
 
The Offering will be priced in the context of the market with final terms of 
the Offering to be determined at the time of pricing.  The Company intends to 
use the net proceeds of the Offering to fund Phase 1 of the Eastern Limb 
development plan as well as for general working capital purposes. 
 
The Offering is expected to close on or about December 8, 2010. 
 
Trading in the Company's shares will be temporarily suspended on both the AIM 
market of the London Stock Exchange and on the Johannesburg Stock Exchange on 
Tuesday, November 23, 2010 at 7.30 am (GMT) pending finalization of the terms 
of the proposed Offering. 
 
Eastern Platinum Limited is a platinum group metals 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 - 683,191,898 
 
Certain statements contained in this news release constitute forward-looking 
statements including the granting of an over-allotment option and the proposed 
closing date of the financing. Such forward-looking statements involve a number 
of known and unknown risks, uncertainties and other factors which may cause the 
actual results, performance or achievements of the Company's plans to differ 
materially from any future results, performance or achievements expressed or 
implied by such forward-looking statements including market conditions. 
Readers are cautioned not to place undue reliance on these forward-looking 
statements, which speak only as of the date the statements were made, and 
readers are advised to consider such forward-looking statements in light of the 
risks set forth in the Company's Annual Information Form dated March 31, 2010, 
a copy of which is available at www.sedar.com. 
 
This press release shall not constitute an offer to sell or a solicitation of 
an offer to buy any securities in the United States.  The securities have not 
been registered under the U.S. Securities Act of 1933 and may not be offered or 
sold in the United States absent registration or an exemption from the 
registration requirements of the U.S. Securities Act of 1933. 
 
For further information: 
 
Ian Rozier, President & C.E.O. 
+1-604-685-6851 (tel) 
+1-604-685-6493 (fax) 
info@eastplats.com 
www.eastplats.com 
 
NOMAD: 
Ryan Gaffney / Ryan Cohen 
Canaccord Genuity Limited, London 
Email: rgaffney@canaccordgenuity.com / rcohen@canaccordgenuity.com 
+44 20 7050 6500 
 
JSE SPONSOR: 
Johan Fourie 
PSG Capital (Pty) Limited 
Email:  johanf@psgcapital.com 
Tel: +27 21 887 9602 
 
(ELR.) AIM:ELR  JSE:EPS 
 
 
 
 
 
 
END 
 

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