Eastern Platinum to sell C$100 million of subscription receipts

New York, Feb. 21- Eastern Platinum Ltd. said it plans to offer C$100 million of subscription receipts in a private placement.

GMP Securities LP and Canaccord Capital Corp. will be joint lead managers of the best-efforts financing, which will be offered in Canada, the United States and Europe.

Pricing has yet to be set.

The Vancouver, B.C., platinum mining company will use proceeds to fund its acquisition of a 100% interest in three private companies that together own 210 million common shares or 69% of Barplats Investments Ltd., a platinum group metals producing company listed on the Johannesburg Stock Exchange.

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