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DynaResource, Inc. Reports the Awarding of $48 M USD in Damages to DynaResource de Mexico, S.A. de C.V. Against Goldgroup Resources Inc.
DynaResource, Inc. Reports the Awarding of $48 M USD in Damages to DynaResource de Mexico, S.A. de C.V. Against Goldgroup Resources Inc..
About this update from Dynaresource, Inc.
[{"type":"text","content":"\n \n \n DynaResource, Inc. Reports the Awarding of $48 M USD in Damages to DynaResource de Mexico, S.A. de C.V. Against Goldgroup Resources Inc.\n \n \nDynaResource, Inc. Reports the Awarding of $48 M USD in Damages to DynaResource de Mexico, S.A. de C.V. Against Goldgroup Resources Inc.\n \n IRVING, TX--(Marketwired - Oct 13, 2015) - DynaResource, Inc., of Irving Texas, (OTCQB: DYNR) is pleased to report that DynaResource de México SA de C.V. (\"DynaMéxico\"), the 100% owner of the San Jose de Gracia Project, located in the County of Sinaloa de Leyva, State of Sinaloa, México (\"SJG\" and, the \"SJG Project\"), was awarded in excess of $48 M USD (Forty-Eight Million Dollars) in damages from Goldgroup Resources, Inc. (the \"Goldgroup Damages\") on October 05, 2015, by virtue of a Sentencia Definitiva (the \"Definitive Sentence\") issued by the Thirty Sixth Civil Court of the Superior Court of Justice of the Federal District of México (Tribunal Superior de Justicia del Distrito Federal), File number 1120/2014. The Definitive Sentence included the considerations and resolutions by the Court, and in addition to the Goldgroup Damages, additional Resolutions were also ordered in favor of DynaMéxico (together the Goldgroup Damages and the additional Resolutions are referred to as, the \"Oct. 5, 2015 Resolution\").\n The Oct. 5, 2015 Resolution affects the shareholders of DynaMéxico which are: DynaResource, Inc., which currently holds 80% of the outstanding share capital of DynaMéxico; and Goldgroup Resources Inc. (\"Goldgroup\"), which currently holds 20% of the outstanding share capital of DynaMéxico. Goldgroup Mining Inc. (GGA.TO) is reported to own 100% of the outstanding share capital of Goldgroup Resources Inc.\n A concise translation to English of the Oct. 5, 2015 Resolution issued in Spanish (the resolution portion of the Definitive Sentence) is set forth below:\n FIRST: The action and litigation based on commercial law filed by DynaMéxico is valid and enforceable, and where Goldgroup and the American Arbitration Association were found to be in default, was proper.\n SECOND:  Goldgroup is declared in breach of its corporate duties, for failure to refrain from claiming direct ownership of 50% of the San José de Gracia Mining Project.\n THIRD:  Goldgroup is condemned an...