Vancouver, British Columbia--(Newsfile Corp. - May 26, 2017) - Fairmont Resources Inc. (TSXV: FMR) ("Fairmont" or the "Company") announces that, in connection with its Granitos de Badajoz ("Grabasa") acquisition, the company's lawyers in Spain received on May 26, 2017, a resolution stating that the offer to acquire the assets of Grabasa has been terminated by the Court, located in Badajoz, Spain. Fairmont's lawyers have identified several key points which may be considered legally inaccurate.
On that ground, Fairmont will appeal the court's ruling on several points. As well, it is a very serious situation that it appears the court ruling was leaked to the media before Fairmont was notified. Fairmont expects to file a complaint in relation to this leak. The leak appears to be malicious and with the intent to damage the reputation of Fairmont with the local community and former employees of Grabasa in Spain.
Fairmont is also pursuing additional options to complete the acquisition of Grabasa and is committed to bringing Grabasa back into production and bringing jobs back to the region.
About Fairmont Resources Inc.
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.
Fairmont's Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.
