Dundee Corporation Dismisses Lawsuit Against Formation Metals

Formation Metals Inc. (TSX:FCO) announced that Dundee Corporation’s legal counsel has sent a Consent Dismissal Order of the Petition proceedings, for filing with the Supreme Court of British Columbia. This is to dismiss the proceedings against Formation and all other respondents, including all Formation directors at the time of the initial filing of the Petition in June 2013, in response to the Company’s announcement of the proposed sale of certain assets as discussed in the Company’s news release dated June 6, 2013.

All parties of record to the proceeding have agreed to the dismissal of the Petition without costs to any party and the dismissal order has been sent for filing with the Supreme Court of British Columbia.

Formation Metals Chairman of the Board, Robert Quinn, said:

We are pleased to have this lawsuit behind us. We have been working harmoniously with our new directors who have been contributing added value to the board. Their combined knowledge and experience is expected to result in significant additional opportunities for Formation and its stakeholders moving forward.

Click here to read the Formation Metals Inc. (TSX:FCO) press release
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