RUSORO PROVIDES UPDATE ON VENEZUELAN ARBITRATION

About this update from Rusoro Mining Ltd.

[{"type":"text","content":"\n \n \n \n RUSORO PROVIDES UPDATE ON VENEZUELAN ARBITRATION\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 Aug. 17, 2023\n \n \n /CNW/ -\n \n Rusoro Mining Ltd.\n \n (TSXV: RML)\n \n (\n \n the\n \n \"Company\"\n \n or\n \n \"Rusoro\")\n \n is pleased to announce that on\n \n August 14, 2023\n \n , the Company submitted to\n \n the United States\n \n District Court for the District of\n \n Delaware\n \n a statement (the \"\n \n Additional Judgement Statement\n \n \") setting forth the current value and certain other information concerning the Federal Court judgement issued on\n \n March 2, 2018\n \n by\n \n the United States\n \n District Court for the\n \n District of Columbia\n \n in favor of Rusoro and against the Bolivarian Republic of\n \n Venezuela\n \n (the \"\n \n U.S. Judgement\n \n \"). In the Additional Judgement Statement, the Company reported the amount of the U.S. Judgement as\n \n US$1.48 billion\n \n , inclusive of federal post-judgement interest accruing from the date of the U.S. Judgement (\n \n March 2, 2018\n \n ) to\n \n August 14, 2023\n \n . Because the U.S. Judgement accrues interest at a different rate than the arbitral award that the U.S. Judgement recognized (the \"\n \n Award\n \n \"), the current value of the U.S. Judgement does not capture the full value of the Award, which is\n \n US$1.815 billion\n \n . The Company intends to pursue any difference in value between the U.S. Judgement and the Award in other appropriate jurisdictions. Although the\n \n Delaware\n \n Court has not issued a final determination on the relative priority of the various judgements, based on the guidelines set forth by the\n \n Delaware\n \n Court on\n \n July 27, 2023\n \n , Rusoro is seventh in order of priority behind approximately\n \n US$3.5 billion\n \n in claims from other claimants.\n \n \n \n ON BEHALF OF THE BOARD\n \n \n \n \n \n \"Andre Agapov\"\n \n \n \n \n Andre Agapov\n \n , President & CEO\n \n \n Neither the TSX Venture Exchange nor its Regulation Services Provide...

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