Richmond Minerals Inc. (TSX-V: RMD) (“Richmond” or the “Company”) announces that the Court of Appeal for Ontario has released an interim decision in connection with the appeal of the Judgment in the Swayze Property litigation. The Court has ordered the appellants to provide security for both the costs previously awarded to Richmond by the trial judge as well as an additional $25,000 for the anticipated costs of the appeal. On October 9, 2014, Richmond Minerals (one of the four moving parties) moved for security of costs before the Court of Appeal of Ontario. In total the Court ordered the appellants to provide $315,500 in security for costs. The appellants have 30 days to provide satisfactory security to the court. The appellants may not perfect the appeal until they have posted the necessary security.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the litigation will be resolved. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.
On Behalf of Richmond Minerals,
Franz Kozich
President and CEO
SOURCE Richmond Minerals Inc.
For further information: Please contact Franz Kozich, President or Warren Hawkins, Exploration Manager at (416) 603-2114.
http://www.newswire.ca/en/story/1466379/richmond-minerals-inc-corporate-update