June 28 (Reuters) - Eastern Platinum Ltd ELR.TO :
* Hebei Zhongheng Tianda Platinum Co. Limited to purchase
the Crocodile River Mine
* Deal for for total consideration of US$50 million payable
in cash
* Consideration received to be net of transaction costs
* Eastern Platinum says Hebei Zhongheng Tianda Platinum will
acquire Co's South African unit, Barplats Mines Limited, which
holds Crocodile River Mine
* In case of certain events where HZT fails to meet its
obligations it will pay break fees of up to us$10 million
* Upon closing,Hebei Zhongheng Tianda Platinum to have
operating responsibility for Crocodile River Mine,ownership of
Barplats Mines Ltd
* Eastplats will continue to maintain ownership of its
Eastern Limb Projects
* In case of certain events where Eastplat fails to meet its
obligations it will pay break fees of up to US$5 million
Source text for Eikon: ID:nMKWqMzJza
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