Update on Current Litigation Between Handeni Gold Inc. and Ruby Creek Resources Inc.
June 28 2013 - 10:18AM
Marketwired
Handeni Gold Inc. (OTCQB:HNDI) ("Handeni") is providing an update
to its shareholders with regards to the litigation between Handeni
and Ruby Creek Resources Inc. ("Ruby Creek").
As set out in a joint news release by the Company and Ruby Creek
on February 14, 2013 the two respective chairmen have met in April
2013 to discuss a potential settlement of the current litigation
between the companies. During this meeting an undertaking was
provided by Ruby Creek to propose a settlement agreement within one
week following this meeting. Despite Handeni repeatedly requesting
Ruby Creek to provide said settlement proposal none has been
forthcoming to date.
In the interest of its shareholders Handeni is unfortunately
left with no other choice but to proceed with the next steps in the
litigation process to prevent further damage to Handeni as a result
of the actions of Ruby Creek.
About Handeni Gold Inc.
The Company is an emerging mineral exploration company focused
on exploring and developing mining opportunities in Tanzania. For
more information, go to www.handenigold.com.
Safe Harbour Statements
Except for the statements of historical fact contained herein,
the information presented in this news release constitutes
"forward-looking statements" as such term is used in applicable
United States and Canadian laws. These statements relate to
analyses and other information that are based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans, "estimates" or "intends", or stating
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved) are not
statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such risks and other factors include,
among others, the actual results of exploration activities, the
availability of capital to fund programs and the resulting dilution
caused by the raising of capital through the sale of shares,
accidents, labour disputes and other risks of the mining industry
including, without limitation, those associated with the
environment, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction
activities, title disputes or claims limitations on insurance
coverage. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended.
There can be no assurance that such statements 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
statements contained in this news release and in any document
referred to in this news release.
Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date the statements are made
and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law.
Such forward-looking statements reflect our current views with
respect to future events and are subject to certain risks,
uncertainties and assumptions, including, the risks and
uncertainties outlined in our most recent financial statements and
reports and registration statement filed with the United States
Securities and Exchange Commission (the "SEC") (available at
www.sec.gov) and with Canadian securities administrators (available
at www.sedar.com). Although the Company believes that the beliefs,
plans, expectations and intentions contained in this news release
are reasonable, there can be no assurance those beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consider all of the information set forth herein and should
also refer to the risk factors disclosed in the Company's periodic
reports filed from time-to-time with the SEC. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy securities of the Company nor shall there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
Contacts: Handeni Gold Inc. Investor Relations
+1.604.642.6165info@handenigold.com www.handenigold.com
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