Eastern Platinum Limited cancels private placement

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

Trading Symbol: ELR (TSX); EPS (JSE)

VANCOUVER, Dec. 14, 2016 /CNW/ - Eastern Platinum Limited (the "Company") announces that it will not be proceeding with the non-brokered private placement of approximately 18,435,360 common shares of the Company previously announced on October 27, 2016.  The Company and the placee have mutually agreed to terminate the proposed investment, without cost or penalty to either, as they were unable to reach agreement on the final terms and conditions sought by the Company.  As a result of the termination of the placement, the Company will have no obligation to pay the finders' fee that had been contemplated as part of the proposed investment. 

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

SOURCE Eastern Platinum Limited

EASTERN PLATINUM LIMITED, Diana Hu, President and Chief Executive Officer, [email protected] (email), [phone] (phone)