Sunridge Gold Corp. Receives Favourable Decision by the Federal Court of Canada
14.04.2016 | FSCwire
![Sunridge Gold Corp. Receives Favourable Decision by the Federal Court of Canada](https://www.goldseiten.de/media/goldseiten-news.jpg)
As reported on June 17, 2015 the Company had negotiated a stay of the FOG and while it appealed the FOG had arranged a credit facility with an arm’s length party to post the LC on Sunridge’s behalf for a one year period for a fee equal to 9% per annum calculated on the face amount of the LC for the period it is outstanding. This facility as now been collapsed. The Sunridge appeal was heard by the Court on November 25 and 26, 2015 and the judgment was delivered to the parties on April 8, 2016. The Court allowed Sunridge’s the appeal and set aside the provisional order of garnishment (July 31, 2013) and FOG (January 9, 2015) and awarded costs to Sunridge.
Delizia Limited has advised the Company that it intends to appeal this decision.
For additional information on the Company visit our website at www.sunridgegold.com or call Greg Davis at the number listed below.
SUNRIDGE GOLD CORP.
“Michael Hopley”
For further information contact:
Sunridge Gold Corp.
Michael Hopley, President and Chief Executive Officer
Greg Davis, VP Business Development
Email: greg@sunridgegold.com
Tel: 604-688-1263 (direct)
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