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Euromax Announces New Legal Decision
Euromax Announces New Legal Decision Canada NewsWire VANCOUVER, BC , ...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n \n \n \n Euromax Announces New Legal Decision\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 4, 2023\n \n \n /CNW/ -\n \n Euromax Resources Ltd\n \n (TSX: EOX) (\"\n \n Euromax\n \n \" or the \"\n \n Company\n \n \") announces that the Administrative Court (the \"\n \n Court\n \n \") has issued its decision in respect of the Company's appeal challenging the termination of the Ilovica 6 concession by the Government of the Republic of\n \n North Macedonia\n \n . The Court has upheld the Company's lawsuit and annulled the disputed decision to terminate the Ilovica 6 concession. The Court has returned the case to the respective authority to reconsider and redecide.\n \n \n As part of this decision, the Court, having recognised that the merger of the Ilovica 6 and Ilovica 11 concessions (\"\n \n Concessions Merger\n \n \") represents a prior legal matter, rejected the Company's proposal that the Government be required to decide on the Concessions Merger, citing the matter being out of the Court's authority. Until a final approval for the Concessions Merger is concluded, the Company acknowledges that there is still material uncertainty related to intended development of the Ilovica-Shtuka Project.\n \n \n \n Tim Morgan-Wynne\n \n , Executive Chairman, stated:\n \n \"We are encouraged by the fact that the Administrative Court has restored the legal status of the Ilovica 6 concession. The Company looks forward to a constructive and forward looking engagement with the relevant stakeholders to take the next steps.\"\n \n \n \n \n About Euromax Resources Ltd.\n \n \n \n Euromax has a major development project in\n \n North Macedonia\n \n and is focused on building and operating the Ilovica-Shtuka gold-copper project.\n \n \n \n Forward-Looking Information\n \n \n \n \n This news release contains statements that are forward-looking, such as those relating to the Company's potential courses of action in response to recent decisions by agencies of the government of\n \n North Macedonia\n \n , inclu...