Vancouver, British Columbia--(Newsfile Corp. - July 4, 2017) - Fairmont Resources Inc. (TSXV: FMR) ("Fairmont" or the "Company") announces that the First Instance Court No. 5, Badajoz, Spain has ordered that the Company pay Innovacion, Soluciones Y Servicios Para La Commercialiacion S.L. (commercial name Eureka Trading) EUR 575,000 (840,247.50 CAD) in connection with Eureka Trading's claim that the Company owes them a success fee for the unsuccessful acquisition of certain assets in Spain belonging to Granitos de Badajoz, S.A. ("Grabasa"), which is currently in liquidation. Further, the Badajoz City Court has also placed precautionary measures on the Company's' deposit of EUR 150,000 placed with the Spanish Mercantile Court No. 1. This EUR 150,0000 deposit formed part of the Company's original bid for Grabasa (See news release June 23 2016).
The Company and its Spanish legal counsel are currently considering whether to appeal the decision by the deadline of July 28, 2017.
Despite this judgment, the Company continues to actively seek partners to complete the acquisition of Grabasa.
Note: Exchange rate used 1 EUR = 1.4613 CAD
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.
