Business
EurOmax Sued by Dundee over Peroto Property; New Chief Financial Officer Appointed
EurOmax Sued by Dundee over Peroto Property; New Chief Financial Officer Appointed.
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\nIssued Capital: 46,949,155 common shares\n\n\nStock Exchange\n\n\nTSX Venture Exchange\n\n\nSymbol: EOX\n\n\nVANCOUVER, Aug. 1 /CNW/ - EurOmax Resources Ltd. ("EurOmax") announced\ntoday that Dundee Precious Metal Ltd. ("Dundee") has filed a lawsuit against\nEurOmax and eight other parties in connection with the acquisition by a\nsubsidiary of EurOmax of the Peroto licence in Bulgaria.\n\n\nDundee alleges that EurOmax acquired the property in breach of fiduciary\nduties owed to Dundee in relation to a consulting arrangement between Dundee\nand third parties, including EurOmax's Chairman and Chief Executive Officer.\nDundee has requested substantial damages as a remedy for these alleged\nbreaches of fiduciary duties. EurOmax considers the lawsuit to be without\nmerit and has instructed its counsel to vigorously defend the Company.\n\n\nEurOmax also announces that Mr. Michael Mason has resigned as Chief\nFinancial Officer of the Company. He will continue to act as a director of\nEurOmax. The Company also announces that Mr. Christopher A. Serin has been\nappointed as Chief Financial Officer of EurOmax. Mr. Serin is a mining\nengineer with an MBA. He has been a director of the Company since 2002 and\npreviously was Chief Financial Officer of Royal Oak Mines Ltd, among a number\nof executive positions that he has held during a career of more than 30 years.\n\n\n"John Menzies"\n\n\nChairman & CEO\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\n","length":1642,"tagName":"div"}]