Business
Eco Oro receives positive ruling regarding court proceedings
VANCOUVER, March 26, 2013 /CNW/ - Eco Oro Minerals Corp. ("Eco Oro" or the "Company") (TSX...
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, March 26, 2013 /CNW/ - Eco Oro Minerals Corp. (\"Eco Oro\" or the \"Company\") (TSX: EOM) is pleased to report that the legal proceedings filed by Sociedad Mina\n Los Diamantes Ltda. and Crisanto Peña Gelvez (the \"Claimants\"), as\n previously disclosed on February 4, 2013, have been rejected by the\n Eighth Civil Circuit Court of the City of Bucaramanga, by the Judge who\n originally admitted the case.\n\n\nThe Claimants had asked the Court to annul the assignment and sale\n agreement (the \"Agreement\") entered into in 1994 by the Claimants and\n the Company pursuant to which the Company acquired mining permit 3452\n from the Claimants, which permit, covering an area of 250 hectares, was\n subsequently converted into integrated concession contract 3452,\n covering an area of 5,254 hectares. The Judge concluded that the\n Agreement has a valid and enforceable arbitration provision, which\n requires all disputes or differences concerning the performance of the\n Agreement to be resolved by arbitration. As a result, the Judge decided\n to reject the legal proceedings due to a lack of jurisdiction and\n ordered costs and damages to be paid by the Claimants.\n\n\nCompany Profile\n\n\nEco Oro Minerals Corp. is a publicly-traded precious metals exploration\n and development company with a portfolio of projects in Colombia. Eco\n Oro has been focused on its wholly-owned, multi-million ounce Angostura\n gold-silver deposit, located in northeastern Colombia, for over 15\n years during which it has invested over $200 million in the project's\n development and in that of the surrounding communities.  Eco Oro is\n committed to further advancing the Angostura Underground Project in a\n socially and environmentally responsible manner that will be beneficial\n for all stakeholders.\n\n\nThe Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this\n news release.\n\n\nForward-Looking Statements\n\n\nCertain statements in this news release are \"forward-looking\" within the\n meaning of Canadian securities legislation. They include statements\n about outcomes of legal proceedings. Forward-looking statements are\n necessarily based upon the current belief, opinions and expectations of\n management that, while considered reasonable by the Company, are\n inher...