Euromax Resources

Published : July 14th, 2010

Sues Anthony Patriarco for Insider Trading

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EurOmax Sues Anthony Patriarco for Insider Trading

July 14, 2010

   EurOmax Sues Anthony Patriarco for Insider Trading (129 KB)

VANCOUVER Canada - July 14, 2010: EurOmax Resources Limited (TSX-V: EOX) ("EurOmax" or the "Corporation") announced that the Company has commenced a civil claim against Mr. Anthony Patriarco in the Supreme Court of British Columbia to recover benefits received as a consequence of improper trading in the common shares of the Company by an entity over which Mr. Patriarco exercises control and direction.

As referred to in the Company's news release of July 9, 2010, Mr. Patriarco recently filed insider reports regarding certain sales of common shares of the Company by Blue Ridge Educational Foundation ("Blue Ridge"). In filing these insider reports, Mr. Patriarco confirmed that he has control or direction over Blue Ridge. These insider reports (which were filed by Mr. Patriarco on June 9, 2010, several months after the trades in question) disclose that Blue Ridge sold common shares of the Company on 13 separate occasions between January 6 and March 31, 2010 for aggregate gross proceeds of US$214,015. The prices realized were between US$0.295 and US$0.20 per share. On July 13, 2010, the Company's common shares closed on the TSX at C$0.11 per share.

Mr. Patriarco was a director of the Company between June 2009 and March 2010 and at all relevant times was also a significant shareholder of the Company. The Company's claim alleges that Mr. Patriarco had knowledge that the Company had filed a confidential material change report with Canadian securities regulatory authorities disclosing that the Company's application for an extension of its Ilovitza 4 permit had been rejected by Macedonian authorities. For further details regarding the Ilovitza 4 permit, please see the Company's July 9 news release.

The rejection of the Company's application for an extension of the Ilovitza 4 permit was an adverse material change that had not been generally disclosed. The Company's claim alleges that despite the confidential nature of this information, Blue Ridge sold common shares of the Company in violation of the Securities Act (British Columbia) and the Company's policies on insider trading. Pursuant to section 136.1(1) of the Securities Act (British Columbia), EurOmax is claiming from Mr. Patriarco an amount equal to the benefits received by Blue Ridge as a result of these allegedly improper insider trades. EurOmax is also claiming punitive damages and costs.

About EurOmax Resources Limited

EurOmax Resources Limited is a Toronto Venture Exchange Listed company trading under the ticker symbol "EOX". The Company maintains a portfolio of gold and base exploration projects in South Eastern Europe.

 

On Behalf of the Board of Directors

"Christopher A. Serin"
Interim Chief Executive Officer

 

Neither 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.

FORWARD LOOKING-STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the expected outcome and conduct of the Company's lawsuit against Mr. Patriarco. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of EurOmax to be materially different from those expressed or implied by such forwardlooking statements. There can be no assurance that such 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. EurOmax does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Media and Investor Contacts

Media:
Joel Shaffer
Kingsdale Communications
Telephone: + 1 416 867 2327

Investor Relations:
Robert Ferguson
Telephone: + 1 778 945 2116
Email:
r.ferguson@euromaxresources.com

 



EurOmax Resources Limited (EurOmax) is a Canadian minerals company re-discovering and developing the minerals wealth of SE Europe.

From a base in Sofia, Bulgaria, projects in Bulgaria, Macedonia and Serbia are being explored for gold and base metals. EurOmax made the strategic decision in 2003 to focus on the metals potential of SE Europe after a systematic and global review of prospective terrains. The Company was attracted to SE Europe because of the prospectively of the geological terrain, availability of quality exploration and support professionals and a long history of gold and base metal mining.

We are committed to delivering to shareholders and interested investors clear, concise, accurate and reliable information. Our website (
www.euromaxresources.com) contains all the public documents of the corporation together with descriptions of our projects. Here you will find a large archive of technical data and drill core and site images. We hope you enjoy the content and find it useful in better understanding our company.

Robert R. Ferguson
Direct: (778) 945-2116
Mobile: (604) 999-5546
E : r.ferguson@euromaxresources.com
 
 

          

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Euromax Resources

EXPLORATION STAGE
CODE : EOX.V
ISIN : CA29873T3073
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Euromax is a gold and copper exploration company based in Canada.

Euromax holds various exploration projects in Bulgaria, in Canada and in Macedonia.

Its main exploration properties are KARAVANSALIJA, TRUN, POPINTSI and RAKITOVO in Bulgaria, KAZANDOL, CEOVISHTE, BRESTOVATZ and ILOVITZA in Macedonia and DURLAN POTOK and EYREMORE in Canada.

Euromax is listed in Canada and in United States of America. Its market capitalisation is CA$ 50.2 millions as of today (US$ 38.5 millions, € 34.9 millions).

Its stock quote reached its highest recent level on March 21, 1997 at CA$ 5.40, and its lowest recent point on April 25, 2014 at CA$ 0.09.

Euromax has 116 842 737 shares outstanding.

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Corporate Presentations of Euromax Resources
11/1/2012Management Share Purchases New Euromax Corporate Presentatio...
3/2/2008 Corporate Presentation - February 2008
Annual reports of Euromax Resources
2007 Annual Report
Financings of Euromax Resources
3/15/2011Announces Final TSXV Approval of $7.875 Million Private Plac...
2/22/2011Proposes Private Placement for Up to $7.875 Million
Option Grants of Euromax Resources
9/21/2012Brings Investor Relations Services In-house
3/23/2011Grant of 575,000 options at $0,35
2/3/2011Euromax issues 1.075.000 stock options at $0.31
Nominations of Euromax Resources
6/11/2013Appoints Environmental & Social Manager
6/1/2011Board of Directors Re-Elected at Annual General Meeting
9/1/2009Appoints VP Exploration and IR Team
8/7/2008appoints Greg Hall as member of advisory board
Project news of Euromax Resources
2/29/2012First Berlin Initiates Coverage of Euromax Resources
2/8/2012Euro Pacific Broker Note - EurOmax Resources
7/20/2011(Trun)Confirms Another Gold Zone at Trun - Drilling Encounters 24 ...
5/26/2011(Ilovitza)Intercepts 369 Meters at 0.22% Copper and 0.33 Grams Per Ton...
4/1/2011(Breznik)Reports 0.5 Million Ounces Gold and 2.1 Million Ounces Silve...
2/17/2011(Ilovitza)Intercepts 336.5 Meters at 0.30% Copper and 0.37 Grams Per T...
8/4/2010(Kazandol)Drilling Confirms Oxide Copper Zone at Kazandol North
11/12/2009Correction: Drilling at Breznik Intersects High Gold Grades
11/3/2009Drilling at Breznik Intersects High Grades and Extends Lengt...
7/24/2008(Ilovitza)Ilovitza Geophysical Survey
6/26/2008(Ilovitza)Announces 1.6 Billion pound copper and 2.9 million ounce gol...
Corporate news of Euromax Resources
7/7/2016Euromax Announces Final Approval To Graduate to TSX
6/20/2016Euromax Announces Receipt of Conditional Approval to Graduat...
6/14/2016Euromax Announces Reconfirmation of US$240m German Governmen...
6/14/2016Euromax Announces Reconfirmation of US$240 Million
5/20/2016Euromax Announces Completion of Convertible Debt Financings ...
5/6/2016Notice for submission of the Ilovica Project EIA for approva...
4/29/2016Euromax announces non-brokered private placement to the EBRD...
4/8/2016Proposed Funding Package and Formation of Strategic Relation...
4/8/2016Euromax Announces Proposed Funding Package and Formation of ...
3/21/2016Euromax Announces Board Appointment
1/6/2016Euromax Announces Ilovica Feasibility Study Results
10/20/2015Read our latest newsletter - September 2015
10/19/2015Euromax Announces Option Agreement for KMC
9/15/2015Read our latest newsletter - August 2015
9/10/2015Euromax Resources to Attend Upcoming Investment Summits
7/29/2015Euromax at the Macedonia 2025 Networking Reception in Toront...
7/15/2015Read our latest newsletter - June 2015
7/9/2015Euromax on Mining Journal - Rose among the thorns
7/9/2015Rose among the thorns - Mining Journal
3/24/2015Euromax Announces Appointment of Director and Funding of Sec...
3/24/2015Announces Appointment of Director and Funding of Second $3.7...
3/9/2015Euromax Announces Closing of Royal Gold Transaction
3/3/2015Announces Closing of Royal Gold Transaction
3/3/2015Euromax Announces Closing of Royal Gold Transaction
2/20/2015Certificate of Appreciation awarded to Euromax Resources
1/12/2015Euromax Resources Closes Private Placement
1/12/2015Euromax Resources Closes Private Placement
12/23/2014Re-filing of Amended Technical Report
12/22/2014Re-Filing of Amended Technical Report
12/10/2014Euromax Announces Non-­Brokered Private Placement to the EBR...
12/9/2014Euromax Announces Non-Brokered Private Placement to the EBRD
10/21/2014Royal Gold Acquires Gold Stream on Euromax’s Ilovitza Projec...
10/21/2014Euromax Resources Announces US$175 Million Gold Streaming Ag...
9/27/2013Receives C$1 Million from Sale of Thrace Resources
9/12/2013Announces Discovery Drill Hole at Gradina, KMC, Serbia
8/5/2013(Ilovitza)Announces New Mineral Resource Estimate for Ilovitza Project
7/24/2013Publishes First Company Newsletter
7/24/2013Publishes First Company Newsletter
5/24/2013(Ilovitza)Announces New Mineral Resource Estimate for Trun Project-Dri...
5/9/2013All Resolutions Passed at Euromax Annual General & Special M...
5/9/2013All Resolutions Passed at Euromax Annual General & Special M...
3/26/2013(Ilovitza)Files Updated Ilovitza PEA
3/21/2013(Ilovitza)Announces 2012 Drilling Results from Ilovitza, Macedonia
2/19/2013Announces 2012 Drilling Results from KMC Project, Serbia
2/14/2013(Ilovitza)Opens Information Centre in Ilovitza
1/23/2013Announces $8.8 Million Non-Brokered Private Placement; Appoi...
11/8/2012Board and Management Changes
10/24/2012(Ilovitza)Announces Approval of Ilovitza EIS & Preliminary Economic As...
10/16/2012(Ilovitza)Announces Share Consolidation; New Company Secretary Appoint...
9/13/2012Director's Dealings
5/23/2012Moves to Europe
7/21/2011Drill High Grades
7/7/2011(Breznik)Large Geophysical Anomaly at the Breznik Au-Ag Project Teste...
6/14/2011(Trun)Discovers New Gold Zones at Trun
5/4/2011Commences Drilling and Geophysical Programs
4/21/2011Adds to Technical Advisory Board and Issues Stock Options to...
8/18/2010Reminds Shareholders to Vote their BLUE Proxy By Friday, Aug...
7/26/2010files Information Circular and Urges Shareholders to Vote th...
7/14/2010Sues Anthony Patriarco for Insider Trading
10/20/2009 Bulgarian project update
7/16/2009EOX Closes USD15 Million Property Sale
7/17/2009Now Has A New Lease Of Life In South Eastern Europe
5/27/2009Silk Road Business Combination
8/22/2008Closes $0.75 Million Financing
7/14/2008Exposure to West African Gold Exploration
7/7/2008Dr. Patriarco Joins EurOmax Board
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