Business
Euromax Resources Announces New Legal Decision
VANCOUVER, BC, Nov. 1, 2021 /CNW/ - Euromax Resources Ltd., (TSX: EOX): ("Euromax" or the "Company") announces a new decision in its legal process to reinstate
About this update from Euromax Resources Ltd.
[{"type":"text","content":" VANCOUVER, BC, Nov. 1, 2021 /CNW/ - Euromax Resources Ltd., (TSX: EOX): (\"Euromax\" or the \"Company\") announces a new decision in its legal process to reinstate the Company's Ilovica 6 concession. The Company has received official notification that the Administrative Court (the \"Lower Court\") has ignored the decision of the Higher Administrative Court (the \"Higher Court\") which had accepted our appeal, as announced on the 20th August 2021. The Lower Court has repeated the same decision that had previously been overturned by the Higher Court, stating that the Government of North Macedonia's termination of the Ilovica 6 Exploitation Concession is legal. Following legal advice, the Company remains convinced of its strong legal position and that the Lower Court has made a decision that is both factually incorrect and which misinterprets the applicable material laws. The Company will again appeal this decision to the Higher Court. Tim Morgan-Wynne, Executive Chairman, stated: \"The decision by the Lower Court both misinterprets the facts and the laws and ignores the instructions of the Higher Court. Therefore, the Company shall continue using all legal avenues to resolve this situation and we remain confident in our strong legal position and the benefits that the Ilovica-Shtuka gold-copper project will bring to the Country.\" About Euromax Resources Ltd. Euromax has a major development project in North Macedonia and is focused on building and operating the Ilovica-Shtuka gold-copper project. Forward-Looking Information This news release contains statements that are forward-looking, such as those relating to the Company's potential courses of action in response to the recent decision by the Lower Administrative Court of the Republic of North Macedonia, including potential legal appeals to other courts of applicable jurisdiction in North Macedonia or the pursuit of international arbitration processes; the results of any such appeals or legal processes that may be pursued by the Company, if any; any future decisions, whether by way of appeal or otherwise, of any agency of the government of North Macedonia or of any court of applicable jurisdiction; whether or not any decision of any agency of the government of North Macedonia or of any court of applicable jurisdiction would be favourable to the Company's intere...