Trading symbol (TSX-V): RML
VANCOUVER, BC, March 31, 2021
/CNW/ - Rusoro Mining Ltd. (the "Company" or
"Rusoro") announced this morning that the French Supreme
Court, the Cour de Cassation, overturned the decision of the
Paris Court of Appeal which had
annulled part of the damages portion of the arbitral award
previously rendered in favour of the Company. Mr. Andre Agapov, CEO of Rusoro, noted that this
decision reinstates the arbitral award in full and will allow the
Company to continue to vigorously pursue recognition and
enforcement of the award, the value of which is currently
approximately US$1.58 billion
(representing the original award amount of US$967.77 million plus approximately US$612.23 of interest as calculated by the
Company). Please refer to the Company's news release dated
August 23, 2016 and the Company's
latest financial statements for the period ended September 30, 2020 for further information.
Rusoro intends to pursue all available options to collect on the
reinstated award or otherwise obtain fair compensation for the
unlawful expropriation of its investments in Venezuela.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov, President &
CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-looking statements:
This document contains statements about expected or
anticipated future events and financial results that are
forward-looking in nature and as a result, are subject to certain
risks and uncertainties, such as timing and results of an appeal
with the French Supreme Court, timing and amount of settlement
payments, general economic, market and business conditions, the
regulatory process and actions, technical issues, new legislation,
competitive and general economic factors and conditions, the
uncertainties resulting from potential delays or changes in plans,
the occurrence of unexpected events, and the Company's capability
to execute and implement its future plans. Actual results may
differ materially from those projected by management. For such
statements, we claim the safe harbour for forward-looking
statements within the meaning of the Private Securities Legislation
Reform Act of 1995.
SOURCE Rusoro Mining Ltd.
