Tresoro Mining Corp. updates proceedings
Tuesday, Dec 04, 2012
VANCOUVER, British Columbia, Dec. 3, 2012 /PRNewswire/ -- Tresoro Mining Corp. (the "Company" or "Tresoro") (TSOR-OTCQB, AN4-Frankfurt) reports that on November 30, 2012, it filed a Response to Civil Claim (the "Response") in response to the civil claim of Mercer Gold Corp ("Mercer BC") filed in BC Supreme Court November 19, 2012.
The Response states, in part, that "The present Notice of Civil Claim is an attempt by [Rahim] Jivraj and the Plaintiff [Mercer BC] to evade the Order of Mr. Justice Greyell, to evade the arbitration provisions of the Option Agreement, and to evade their obligation to pay arbitration fees."
"The Notice of Claim is an abuse of the process of the court by the Plaintiff [Mercer BC] and [Rahim] Jivraj personally."
The Response seeks orders that the Notice of Civil Claim is an abuse of process of the court, and that special costs be awarded against Mercer BC and Rahim Jivraj. It also seeks interim and permanent injunctions restraining Mercer BC and Rahim Jivraj from commencing actions in the name of Mercer BC, or in the name of Rahim Jivraj, based in whole or in part, directly or indirectly, on the Option Agreement, or any matters alleged in the actions described in the Response.
As previously reported, on August 6, 2012, the Company commenced an action against Mr. Jivraj and Mercer BC in US Federal Court under Civil Action number C12-1325 MJP. The Complaint against Mr. Jivraj and Mercer BC includes Federal Securities Fraud, Controlling Person Liability, Defamation, Breach of Fiduciary Duty, and Tortious Breach of Implied Covenant of Good Faith and Fair Dealing. The claim is for compensatory damages, which claim may exceed US $43 million, presumed defamation damages and punitive damages, and return of the ten million shares of the Company's stock held by Mr. Jivraj and his nominees, as well as legal fees and costs.
About Tresoro Mining Corp.
Tresoro Mining Corp. is a mineral exploration company. The Company's primary project is to develop the Guayabales Gold Project located in the Marmato Gold District, in Caldas, Colombia. The Project is a bulk-tonnage, gold-silver target that is amenable to open pit mining as well as higher-grade gold-silver mineralization that can be drawn out with selective underground mining techniques. Historically Colombia has been one of the largest gold producers in the world and the Colombian mining industry remains one of the most dynamic and promising sectors of the Colombian economy.
SOURCE Tresoro Mining Corp.