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Rusoro Mining Ltd. (TSXV: RML,OTC:RMLFF) (the "Company" or "Rusoro") announces that the Delaware Court of Chancery, following a hearing earlier today, denied Gold Reserve's request for expedited treatment of its motion for a preliminary injunction. Specifically, Vice Chancellor Lori Will found that Gold Reserve had failed to make an adequate showing that the continuation of the sale process before the federal court in Delaware poses a risk of irreparable injury to Gold Reserve, and expressed the view, which Rusoro shares, that disputes concerning the sale process can be addressed by Judge Stark of the federal court.
Unrelatedly, Judge Stark, the Delaware federal judge overseeing the sale process for the PDV Holdings shares, today denied motions made by Gold Reserve, Citgo, PDVSA, and the Republic of Venezuela calling upon him to disqualify the special master and, in the case of Gold Reserve's motion, to recuse himself from further involvement with the sale process. Judge Stark's 54-page opinion denying these motions found that those motions lacked merit for a variety of reasons, and noted his view that both the Venezuela parties and Gold Reserve wish to see the sale process fail.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov, President & CEO
For further information, please contact:
Rusoro Mining Ltd.
Gordon Keep
E; gkeep@fiorecorporation.com
T: 604 609-6110
Cautionary Note Regarding Forward-Looking Information and Statements:
"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Rusoro Mining Ltd. in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Rusoro's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Rusoro Mining Ltd. disclaims any obligation to update or revise any forward-looking information or statements except as may be required."
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274395
