ELR Eastern Plat

 
TIDMELR 
 
EASTERN PLATINUM LIMITED ANNOUNCES TERMS OF OFFERING 
 
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION 
IN THE UNITED STATES/ 
 
Trading Symbol: ELR (TSX & AIM) EPS (JSE) 
 
VANCOUVER, Nov. 23 /CNW/ - Eastern Platinum Limited (TSX: ELR, AIM: ELR, JSE: 
EPS) (the "Company") announced today that it has entered into an underwriting 
agreement with 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. to sell 195,000,000 
common shares at a price of C$1.55 per share to raise gross proceeds of 
C$302,250,000 pursuant to a short form prospectus (the "Offering"). The Company 
has granted 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 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 is anticipated to resume on both the AIM market 
of the London Stock Exchange and on the Johannesburg Stock Exchange on Tuesday, 
November 23, 2010 at 3.30 pm (GMT). 
 
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 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 
 
OR 
 
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) 
 
 
 
 
 
END 
 

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