Emerita Provides Update Regarding Ongoing Media Reports on Developments in Aznalcollar Court Proceedings, Spain
November 08 2021 - 6:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) is providing an update in response to
current media reports in Spain concerning ongoing developments in
the Aznalcollar legal case. The current flurry of news items is in
response to a resolution issued by the Provincial Court No. 3 of
Seville (the “Court”) (please see the Company’s press release dated
October 6, 2021 for further details) pursuant to which the Court
has determined that it is appropriate to commence with the oral
trial of the accused and that this trial should be conducted in the
upper courts.
Emerita’s external Spanish legal counsel has
advised that this resolution is part of the formal paperwork
required for the trial process, which was expected but is
encouraging, as it indicates the case is progressing. The Court is
not waiting on the outcome of any appeals to the upper court by the
accused which indicates a confidence that these will be denied
based on the rulings to date. The Court has summoned the accused
individually and notified them in person that they should prepare
their final submissions without delay. Most
significantly in counsel’s view is that the Court did not have a
lot more to say about the substance of the case and has ruled to
advance the case to the upper court without delay.”
The next step in the criminal trial is that the
upper court will receive the defense briefs and all trial
documentation, which will be submitted to a nominated judge to set
the date and complete the trial and issue the verdicts and
penalties.
The Administrative Court of Andalucia (the
“Administrative Court”) (please see the Company’s press release
dated November 25, 2015 for further details) has also notified the
Company that it will be making a ruling in the administrative case
initiated by Emerita in 2015. This administrative process is
separate from the ongoing criminal proceedings (see the Company’s
press release dated October 7, 2021) regarding the alleged crimes
committed in the awarding of the Anzalcollar tender and this gives
Emerita another path forward to obtaining the rights to the
Aznalcollar project.
The Company perceives the Administrative Court’s
notice as a very positive development as Emerita’s external Spanish
legal counsel (“Counsel”) has advised the Company that the
Administrative Court has the authority to make a determination to
award the Aznalcollar project to Emerita.
The Company will provide further details of the
Upper Court’s and the Administrative Court’s rulings as they
unfold.
About Emerita Resources
Corp.Emerita is a natural resource company engaged in the
acquisition, exploration and development of mineral properties in
Europe, with a primary focus on exploring in Spain. The Company’s
corporate office and technical team are based in Sevilla, Spain
with an administrative office in Toronto, Canada.
For further information, contact:
Joaquin Merino+34 (628) 1754 66 (Spain)
Helia Bento+1 416 566 8179
(Toronto)info@emeritaresources.com
Cautionary Note Regarding
Forward-looking Information
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the legal processes in Spain, the
likelihood of the Company obtaining the rights to the Aznalcollar
project and the Company’s future plans. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved”. Forward- looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Emerita, as the case may
be, to be materially different from those expressed or implied by
such forward-looking information, including but not limited to:
general business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration
activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate the purchased
properties; foreign operations risks; and other risks inherent in
the mining industry. Although Emerita has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Emerita does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
NEITHER 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 RELEASE.
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