Emerita Provides Update on Aznalcollar Legal Case
March 25 2022 - 6:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that it has been notified
that Court #3 of the Seville Court (the “Court”) will hear the
final phase of the Aznalcollar criminal trial. This notification
pertains to the criminal trial and is separate from the
Administrative Court hearings for which the Company has not yet
received notification.
Magistrate Ángel Márquez Romero has been
appointed as the lead judge responsible for resolving the sentences
that will conclude the trial. Magistrate Ángel Márquez Romero has
more than 40 years of judicial experience and presides over the
Third Criminal Section of the Court. There will be three judges
hearing this phase of the trial led by Magistrate Ángel Márquez
Romero.
According to Emerita’s external Spanish legal
counsel, the hearings will likely last approximately 15-20 days
given the number of people implicated and the number of charges.
The date for the hearings is expected to be announced in the next
few weeks and will in part be determined by when a sufficient block
of time for the hearings is available in the court schedule. Upon
completion of the trial, the judges will convene and draft the
final resolution/decision which will conclude the trial.
The criminal trial process is independent of the
administrative court process. Based on correspondence received from
the Administrative Court late in 2021, this court has also been
deliberating for approximately six months and it is expected this
process is nearing a conclusion also, although to be clear, the
Company has no insights with respect to the progress or the timing
of completion by the Administrative Court. The Administrative Court
is the court that will deal with resolving awarding of the
Aznalcollar public tender. According to Emerita’s Spanish external
counsel, under Spanish law if there is commission of a crime in
awarding a public tender, that bid must be disqualified and the
tender awarded to the next highest bidder. Emerita is the only
other qualified bidder in the Aznalcollar public tender.
According to David Gower, P.Geo., CEO of
Emerita, “Emerita is very encouraged to see the criminal trial
progressing towards a conclusion. Based on the hearings and
unanimous rulings by 5 judges to date, there is little doubt that
there has been a crime committed. The Company is well financed and
prepared to move forward with the development of the Aznalcollar
project using the most modern technologies available for the
benefit of all stakeholders.”
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.
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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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