Goldbrook Ventures Inc

Published : September 22nd, 2011

Arbitration Update

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Keywords :   Canada | Copper | Justice | K Street | Nickel | Platinum | Volatility |
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Dear Eric,

September 22, 2011

 

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
 

For Immediate Release                                                                                         September 22, 2011
Trading Symbol: GBK � TSX-V

NEWS RELEASE

Arbitration Update

Vancouver, British ColumbiaGoldbrook Ventures Inc. (�Goldbrook�) announces that on September 19, 2011, Jilin Jien Nickel Industry Co., Ltd. ("Jilin Jien"), Jien International Investment Ltd. (�Jien International�), and Jien Canada Mining Ltd. ("Jien Canada") filed a petition in British Columbia Supreme Court seeking an order granting leave to appeal the Partial Final Award of the arbitral tribunal dated July 20, 2011 (the "Award"). 
 
As Goldbrook announced on July 20, 2011, the Arbitration Tribunal found in that Award that Goldbrook is entitled under the Shareholder, Joint Bid and Operating Agreement among Goldbrook, Jilin Jien, Jien International and Jien Canada dated August 6, 2009 (the �Shareholders Agreement�) to be the holder of 25% of the voting shares of Jien Canada and that an issuance of shares that would have reduced Goldbrook's interest in the Nunavik Nickel Project to 4.21% was not authorized by, and was contrary to, the Shareholders Agreement.
 
Pursuant to section 31 of the British Columbia Commercial Arbitration Act, in order to obtain leave to appeal, Jilin Jien and its affiliates must establish that the appeal sought is on a question of law arising out of the Award.  If Jilin Jien and its affiliates are able to establish that the appeal sought is on a question of law, the petition provides that they must also establish (i) that the importance of the result of the arbitration to the parties justifies the intervention of the court, (ii) that determination of the point of law may prevent a miscarriage of justice, and (iii) that granting of leave is an appropriate exercise of judicial discretion.
 
Goldbrook will oppose the petition for leave to appeal the Award.
 
About Goldbrook
Goldbrook Ventures is engaged in the exploration and development of Nickel-Copper-Platinum Group Element sulphide deposits � a class of mineral deposit that, due to its polymetallic nature, has an advantage of protection against individual metal price cycles and has strong long term supply-demand fundamentals.  Goldbrook's quest for discovery is focused in the Raglan District of Northern Quebec, a district that hosts Xstrata's Raglan operations, arguably one of the world's most profitable nickel-copper-PGE mines.
 
Goldbrook�s Raglan project is a joint venture with Jilin Jien Nickel Industry Co., Ltd. (�Jilin Jien�) under which Goldbrook and Jilin Jien each hold a fifty percent interest in the Goldbrook properties.  Goldbrook Ventures Inc. and Jilin Jien Nickel Industry Co., Ltd. are also the shareholders in Jien Canada Mining Ltd., owner of the Nunavik Nickel Project.
 
ON BEHALF OF THE BOARD:
(signed) �Brian Grant,� President and Director
 
For further information please contact:
Telephone:  604-683-8083
Website: www.goldbrookventures.com
 
 
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forward looking statements or information include, but are not limited to, statements or information with respect to Goldbrook�s plan for future exploration and development of its properties and the results of any arbitration proceedings against Jilin Jien and others.
 
Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward looking statements or information. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the following: the ability of Goldbrook to advance development of its properties; price volatility of nickel and other metals; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated resources, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineral claims or property, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.  Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.
 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
  
 

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Goldbrook Ventures Inc

EXPLORATION STAGE
CODE : GBK.V
ISIN : CA38076R1091
CUSIP : 38076R 10 9
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Goldbrook Ventures is a gold exploration company based in Canada.

Goldbrook Ventures holds various exploration projects in Canada.

Its main exploration properties are NUVILIK, RAGLAN / BELANGER, SYLVIE, UNGAVA, SCOTT and MASUPARIA PROJECT in Canada.

Goldbrook Ventures is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 80.8 millions as of today (US$ 78.8 millions, € 62.9 millions).

Its stock quote reached its highest recent level on December 31, 2003 at CA$ 0.80, and its lowest recent point on December 24, 2008 at CA$ 0.04.

Goldbrook Ventures has 230 989 000 shares outstanding.

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Corporate Presentations of Goldbrook Ventures Inc
11/21/2009Goldbrook positioned for nickel production in Quebec
4/7/2008Research note
Annual reports of Goldbrook Ventures Inc
2008 Annual Report
Financings of Goldbrook Ventures Inc
10/12/2011Announces Non Brokered Private Placement
Nominations of Goldbrook Ventures Inc
3/28/2011Announces Executive Appointment
4/30/2010Appoints New CEO and Director
Project news of Goldbrook Ventures Inc
8/19/2011(Nunavik)Nunavik Nickel Project Update
7/21/2011(Nunavik)Entitled to 25% Interest in Nunavik Nickel Project
7/13/2010(Raglan / Belanger)Commences 2010 Drill Program on Raglan Project
6/24/2010(Raglan / Belanger)Raglan Project Mobilizes Summer Field Crews
4/14/2010(Nunavik)Receives NI 43-101 on Nunavik Nickel Project
11/12/2009(Raglan / Belanger)2009 Drilling Enhances Mystery Ni-Cu-PGE Sulphides
10/6/2009(Raglan / Belanger)Discovers Deep Extension to Ni-Cu-PGE Sulphides at TIMTU
6/30/2009(Raglan / Belanger)Announces Start of Raglan Drilling Program 2009
5/26/2009(Raglan / Belanger)Exploration Update
11/7/2008Intersects 76.3 metres .91% Ni, 1.11% Cu 2.94 g/t PGE + AU
9/3/2008(Raglan / Belanger)Discovers Ni-Cu-PGE Sulphide Zone at Mystery
5/9/2008(Raglan / Belanger)Announces Multiple Intersections at Getty
5/1/2008(Raglan / Belanger) Announces 6.05 Metres 2.72% Nickel at Sylvie
6/3/2005(Raglan / Belanger)Anglo American form Raglan joint venture
Corporate news of Goldbrook Ventures Inc
1/31/2012JJ Offer and GBK Directors' Circular Recommending Tender to ...
1/20/2012Executes Support Agreement with Jilin Jien for Friendly $0.3...
12/22/2011Announces Arbitration Award
12/20/2011Announces Results of 2011 Shareholders Meeting
12/19/2011(Nunavik)Noel Nunavik Nickel
11/30/2011Jilin Jien Requests Consent to Make an Offer
9/22/2011Arbitration Update
7/26/2011Clarifies Arbitration Award
4/19/2011Files Petition in the Supreme Court of British Columbia
3/31/2011Announces Notice of Arbitration
8/13/2010from Michael A Berry Morning Notes
7/8/2010Receives Additional 2010 Exploration Funding
6/29/2010(Nunavik)LOI with SNC Lavalin for Nunavik Nickel Project
6/2/20102010 Exploration Update
6/1/2010Are You The Winner ?
3/26/2010Participates in Hong Kong Conference
3/24/2010Receives Additional Funding For 2010 Exploration Program
3/3/2010Receives Initial Funding for 2010 Exploration
1/21/2010Chairman's Update
1/15/2010Confirms Delisting of Canadian Royalties
1/13/2010and Canadian Royalties Complete Plan of Arrangement
1/5/2010/Jien Offer Approved By Canadian Royalties Shareholders
11/23/2009Special Report on Goldbrook Ventures Inc.
11/12/2009Jien Canada Takes Up Shares & Debentures of Canadian Royalti...
10/29/2009Expands Pad Zone
10/28/2009Jien Canada Reports Tender Results
10/16/2009Jien Canada And Canadian Royalties Sign Agreement
9/21/2009Expands Mystery Ni-Cu-PGE Sulphide Zone
9/10/2009Drills 95.4 m of .78% Ni - Discovers New Zone
8/27/2009Offer Represents Full and Fair Value
8/10/2009Jilin Jien and Goldbrook Formally Commence All- Cash Bid for...
6/26/2009Northern Miner Article
6/17/2009Announces Camp Mobilization
2/11/2009Receives Initial Funding for 2009 Exploration
11/26/2008Receives Quebec Refund
11/26/2008and Jilin Jien Nickel Hold Signing Ceremony in Beijing
11/26/2008Re-Elects Directors
11/3/2008Mystery Zone Additional Results
9/15/2008Expands Ni-Cu-PGE Sulphide Zone at Mystery
8/29/2008Signs Agreement with Jilin Jien Nickel
8/25/2008looks to China for partnership
8/22/2008Extends Letter of Intent with Jilin Jien Nickel
8/7/2008Extends LOI with Jilin Jien Nickel
7/18/20082008 Exploration Program at Raglan Underway
6/20/2008Enters LOI with Jilin Jien Nickel
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