Dominion Lending Centres Clearlease Reports Eastplats (TSX:ELR) says it will contest allegations in proposed class-action lawsuit

Dominion Lending Centres Clearlease Reports Eastplats (TSX:ELR) says it will contest allegations in proposed class-action lawsuit

VANCOUVER, BC (June 30, 2011) Dominion Lending Centres Clearlease Reports Eastern Platinum Ltd. (TSX:ELR) says it will contest a proposed class-action lawsuit that alleges the company failed to disclose material changes to its Crocodile River Mine in South Africa.

The miner also known as Eastplats said Thursday June 30, 2011, it is aware of the suit filed earlier in the week by London, Ont.-based Siskinds LLP in Ontario Superior Court on behalf of shareholders who bought the company’s stock between Jan. 1 and April 15 this year.

“After reviewing the documents filed with the court, the company is of the view that the allegations are completely without merit and intends to vigorously defend the proposed lawsuit,” Eastplats said in a statement.

Class-action suits require certification by a judge before they can proceed in court. None of the allegations against the company have been proven.

Eastern Platinum settled a two-year wage agreement with workers in South Africa on May 24 after what it characterized as an illegal strike action earlier in the month that saw some damage to its mining facilities.

On May 11, the company reported a first-quarter net loss attributable to shareholders of $5.6 million, compared to year-earlier earnings of $824,000 as it sold 17 per cent less platinum group metals.

Eastplats reported a “traditional slow start” to the year as well as mine infrastructure changes and staff retraining as causes of a production decrease.

However, it said the impact was expected to be short term and production and earnings “will quickly return to anticipated levels.”

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports Eastplats (TSX:ELR) says it will contest allegations in proposed class-action lawsuit

VANCOUVER, BC (June 30, 2011) Dominion Lending Centres Clearlease Reports Eastern Platinum Ltd. (TSX:ELR) says it will contest a proposed class-action lawsuit that alleges the company failed to disclose material changes to its Crocodile River Mine in South Africa.

The miner also known as Eastplats said Thursday June 30, 2011, it is aware of the suit filed earlier in the week by London, Ont.-based Siskinds LLP in Ontario Superior Court on behalf of shareholders who bought the company’s stock between Jan. 1 and April 15 this year.

“After reviewing the documents filed with the court, the company is of the view that the allegations are completely without merit and intends to vigorously defend the proposed lawsuit,” Eastplats said in a statement.

Class-action suits require certification by a judge before they can proceed in court. None of the allegations against the company have been proven.

Eastern Platinum settled a two-year wage agreement with workers in South Africa on May 24 after what it characterized as an illegal strike action earlier in the month that saw some damage to its mining facilities.

On May 11, the company reported a first-quarter net loss attributable to shareholders of $5.6 million, compared to year-earlier earnings of $824,000 as it sold 17 per cent less platinum group metals.

Eastplats reported a “traditional slow start” to the year as well as mine infrastructure changes and staff retraining as causes of a production decrease.

However, it said the impact was expected to be short term and production and earnings “will quickly return to anticipated levels.”

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports Eastplats (TSX:ELR) says it will contest allegations in proposed class-action lawsuit

VANCOUVER, BC (June 30, 2011) Dominion Lending Centres Clearlease Reports Eastern Platinum Ltd. (TSX:ELR) says it will contest a proposed class-action lawsuit that alleges the company failed to disclose material changes to its Crocodile River Mine in South Africa.

The miner also known as Eastplats said Thursday June 30, 2011, it is aware of the suit filed earlier in the week by London, Ont.-based Siskinds LLP in Ontario Superior Court on behalf of shareholders who bought the company’s stock between Jan. 1 and April 15 this year.

“After reviewing the documents filed with the court, the company is of the view that the allegations are completely without merit and intends to vigorously defend the proposed lawsuit,” Eastplats said in a statement.

Class-action suits require certification by a judge before they can proceed in court. None of the allegations against the company have been proven.

Eastern Platinum settled a two-year wage agreement with workers in South Africa on May 24 after what it characterized as an illegal strike action earlier in the month that saw some damage to its mining facilities.

On May 11, the company reported a first-quarter net loss attributable to shareholders of $5.6 million, compared to year-earlier earnings of $824,000 as it sold 17 per cent less platinum group metals.

Eastplats reported a “traditional slow start” to the year as well as mine infrastructure changes and staff retraining as causes of a production decrease.

However, it said the impact was expected to be short term and production and earnings “will quickly return to anticipated levels.”

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk




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