Issued Capital: 46,949,155 common shares
Stock Exchange
TSX Venture Exchange
Symbol: EOX
VANCOUVER, Aug. 1 /CNW/ - EurOmax Resources Ltd. ("EurOmax") announced today that Dundee Precious Metal Ltd. ("Dundee") has filed a lawsuit against EurOmax and eight other parties in connection with the acquisition by a subsidiary of EurOmax of the Peroto licence in Bulgaria.
Dundee alleges that EurOmax acquired the property in breach of fiduciary duties owed to Dundee in relation to a consulting arrangement between Dundee and third parties, including EurOmax's Chairman and Chief Executive Officer. Dundee has requested substantial damages as a remedy for these alleged breaches of fiduciary duties. EurOmax considers the lawsuit to be without merit and has instructed its counsel to vigorously defend the Company.
EurOmax also announces that Mr. Michael Mason has resigned as Chief Financial Officer of the Company. He will continue to act as a director of EurOmax. The Company also announces that Mr. Christopher A. Serin has been appointed as Chief Financial Officer of EurOmax. Mr. Serin is a mining engineer with an MBA. He has been a director of the Company since 2002 and previously was Chief Financial Officer of Royal Oak Mines Ltd, among a number of executive positions that he has held during a career of more than 30 years.
"John Menzies"
Chairman & CEO
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