Katanga Mining Announces Ontario Securities Commission Hearing to Approve Settlement Agreement
ZUG, Switzerland, Dec. 17, 2018 /CNW/ - Katanga Mining Limited (TSX: KAT) ("Katanga" or the "Company") today announced that the Ontario Securities Commission (the "Commission") has issued a Notice of Hearing to consider the approval of a global settlement agreement between Staff of the Commission and the Company, certain of its former directors and officers and its Chief Executive Officer relating to the previously disclosed investigation by Staff into certain of the Company's historical disclosures.
The parties are required to keep the terms of the settlement agreement confidential until the hearing.
The hearing will be held on December 18, 2018, at which time the Commission will consider whether it is in the public interest to approve and give effect to the settlement agreement by making certain orders against Katanga and the individuals listed above as described in the settlement agreement.
Katanga will not be making any further statements on this matter until after the conclusion of the settlement hearing.
About Katanga Mining Limited
Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The Company has the potential to become Africa's largest copper producer and the world's largest cobalt producer. Katanga is listed on the Toronto Stock Exchange under the symbol KAT.
Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's intention to enter into a global settlement agreement between Staff of the Commission and the Company, certain of its former directors and officers and its Chief Executive Officer relating to the previously disclosed investigation by Staff into certain of the Company's historical disclosures; and the Company's intention to submit the settlement agreement to the Commission to consider and, if determined to be in the public interest, approve, the global settlement agreement. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumption that the settlement agreement will be approved by the Commission at the time and on the terms agreed to with Staff of the Commission.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: the risk that the Commission will not approve the settlement on the terms contemplated or at all; the risk that the hearing will be delayed; litigation and other risks associated with the settlement agreement; as well as those factors disclosed in the Company's current annual information form and other publicly filed documents. Although Katanga has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.