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Valiant Eagle Inc. (OTCID:PSRU) Issues Statement Regarding Termination of DRC Joint Venture Discussions Due to Unresolved Ownership Issues
Valiant Eagle Inc. (OTCID:PSRU) Issues Statement Regarding Termination of DRC Joint Venture Discussions Due to Unresolved Ownership Issues.
About this update from Valiant Eagle Inc.
[{"type":"text","content":"Valiant Eagle Inc. (\"Valiant Eagle\" or the \"Company\") today announced that it has formally terminated its joint venture discussions and related agreements with Truestone Trading LLC (\"Truestone\") concerning a proposed mining project in the Democratic Republic of the Congo (\"DRC\").The decision follows Valiant Eagle's inability to obtain legally sufficient documentation demonstrating Truestone's ownership or lawful authority over the referenced DRC property, despite repeated formal requests.During the course of due diligence, Valiant Eagle obtained confirmations from parties identified as the property's owners indicating that Truestone did not possess ownership rights or enforceable authority over the asset. As a result, Valiant Eagle determined that continuing the relationship was not in the best interests of the Company or its shareholders.\"The protection of shareholder value and adherence to rigorous due-diligence standards are paramount,\" said Xavier Mitchell, Chief Executive Officer of Valiant Eagle Inc. \"When ownership and authority over an asset cannot be verified to a legal standard, we will not proceed.\"Valiant Eagle further confirmed that:The Partnership Agreement governing the relationship superseded all prior letters of intent and memoranda of understanding;No payments or reimbursements will be made in connection with expenses asserted by Truestone, as they arose from representations that could not be substantiated; andThe Company is evaluating all available legal, regulatory, and contractual remedies.Valiant Eagle has advised shareholders that the matter will be appropriately reflected in its corporate disclosures and financial reporting in accordance with applicable securities laws.The Company emphasized that it remains actively focused on identifying and pursuing opportunities that meet its legal, operational, and governance standards.About Valiant Eagle Inc.Valiant Eagle Inc. is a diversified holding company focused on strategic acquisitions and investments across media, technology, and emerging markets. The Company is committed to transparency, regulatory compliance, and disciplined capital allocation.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of applicable securities laws. Such statements are based on current expectations and assumptions and are...