Business
Oroco Announces Favourable Court Decision
Oroco Announces Favourable Court Decision Canada NewsWire VANCOUVER, May 7, 2019...
About this update from Oroco Resources Corp.
[{"type":"text","content":"\n\n\n\nOroco Announces Favourable Court Decision\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\nCanada NewsWire\nVANCOUVER, May 7, 2019\n\n\n\nVANCOUVER, May 7, 2019 /CNW/ - Oroco Resource Corp. (TSX-V: OCO) (\"Oroco\" or \"the Company\") is pleased to announce that it has been advised by its Mexican legal counsel that the Mexican Federal Appeal Court has rendered an oral decision which materially affects the status of the Santo Tomas concessions (the \"Concessions\").  The decision will nullify a 2016 judgement (the \"Judgement\") which had resulted from an unwarranted claim to the Concessions by Aztec Copper Inc. (\"Aztec\") and its Mexican subsidiary.  The Company is waiting for written confirmation of the appeal court decision prior to the resumption of trading.  \n\n \n \n\n \nThe existence of the Judgment, and in particular its related annotation recorded in the Mexican Mining Registry, was an impediment to the registration of the Concession titles to Xochipala Gold S.A. de C.V., a subsidiary of Altamura Copper Corp. (\"Altamura\").  Oroco currently owns 13.0 percent of Altamura and holds an irrevocable option to acquire the balance of Altamura (refer to the Company's news release of October 9, 2018).  Once written confirmation of the appeal court decision has been received, the Company will proceed to register the Concessions in the name of Xochipala Gold S.A. de C.V.\nThe Company also reports that a criminal complaint against Aztec and Ron Arnold, the President of Aztec, for procedural fraud, in relation to the trial which resulted in the Judgement, has been filed with the Procuraduría General de Justicia de la Ciudad de Mexico. \nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\nCautionary Note Regarding Forward Looking Information\nThis news release includes certain \"forward-looking information\" and \"forward-looking statements\" (collectively...