Rusoro Mining Executes Addendum to Funding Agreement
TSX VENTURE: RML
VANCOUVER, April 1, 2019 Trading symbol (TSX-V): RML
/CNW/ - Rusoro Mining Ltd. (the "Company" or "Rusoro") is pleased to announce that it has executed an addendum to its funding agreement whereby the Company can continue to use the remaining funding available for its pursuit to reinstate the Award's findings on damages in full or otherwise obtain fair compensation for the unlawful expropriation of its investments in Venezuela, in light of the Paris Court of Appeals partial annulment of the Award as disclosed in the Company's press release on January 30, 2019.
The Company closed a funding agreement for US$7M announced in January 2018, of which approximately US$5M remains unspent, which is intended for use to enforce the arbitration award as a result of Venezuela's unlawful expropriation. This addendum confirms the Company will continue to receive the remainder of this funding for their legal costs and general operations, as they intend to vigorously pursue all available remedies.
ON BEHALF OF THE BOARD
Andre Agapov, President & CEO
This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.