The Conversation (0)
Colombian Mines Receives Final Settlement from Multi-year Lawsuit
Jan. 25, 2016 12:20PM PST
Gold InvestingColombian Mines Corp. (TSXV:CMJ) announced that Colombian courts have awarded it Colombian pesos worth a little over C$410,000. That’s the final settlement of a multi-year lawsuit with one of the country’s largest insurance companies.
Colombian Mines Corp. (TSXV:CMJ) announced that Colombian courts have awarded it Colombian pesos worth a little over C$410,000. That’s the final settlement of a multi-year lawsuit with one of the country’s largest insurance companies.
As quoted in the press release:
The funds have been received and deposited to the account of the Company’s wholly owned Colombian subsidiary.
Proceeds will be used for general and working capital for the Company and its Colombian subsidiary including costs associated with the suit. To the benefit of the Company’s shareholders, the receipt of this settlement together with other funds on hand, eliminates any need for highly dilutive financings in the current market conditions.
Click here to read the full Colombian Mines Corp. (TSXV:CMJ) press release.