Endurance Serves Defense and Counterclaim - Arbitrator Appointed Pardo Joint Venture Dispute
03.12.2013 | FSCwire
Vancouver, British Columbia CANADA, December 03, 2013 /FSC/ - Endurance Gold Corp. (EDG - TSX Venture), ("Endurance" or "the Company") has delivered a statement of defence and initiated a counter-claim as part of the arbitration proceeding launched by Ginguro Exploration Inc. and their 100% owned subsidiary Mount Logan Resources Ltd. (collectively, "Ginguro") regarding the Pardo Joint Venture ("Pardo JV"). The Pardo JV includes 16 claims that are jointly owned by Endurance and Ginguro ("JV Property"). Ginguro also owns about 88 claims which encompass the external boundaries of the Pardo JV Property. The Honourable Dennis O'Connor, Q.C. of the Arbitration Place, has now been appointed by the Company and Ginguro as Arbitrator in the dispute. The Honourable O'Connor sat on the Court of Appeal for Ontario from 1998 to 2012. He served as the Associate Chief Justice of Ontario from 2001 until he retired at the end of 2012. He also served as a deputy judge of the Yukon Supreme Court. For the 18 years before his appointment to the Court of Appeal, he was a senior counsel for the predecessor firm to Borden Ladner Gervais LLP. His practice focused on commercial and public law litigation.
The statement of defence rejects Ginguro's claim of 70.95% joint venture ownership and denies that Ginguro is entitled to any of the declarations, orders, costs or further and other relief sought.
The counter-claim alleges that Ginguro have:
1. breached their contractual obligations under the joint venture agreement with Endurance,
2. made inaccurate representations to Endurance,
3. breached their fiduciary duties, and
4. acted oppressively, with unfair prejudice and unfair disregard of the interests of Endurance.
Endurance Gold Corp.
Robert T. Boyd
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corp.
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
To view this press release as a PDF, please click on the following link:
http://www.usetdas.com/pr/endurancePR120313.pdf
Source: Endurance Gold Corp. - (TSXV: EDG)
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