| Vena Receives Peruvian Court Decision on Azulcocha West Arbitral Award | |
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TORONTO , Jan. 11, 2016 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") (TSX: VEM, Peru : VEM, Germany : V1RA, USA : VNARF) announces that the Superior Court of Lima, Peru (the "Court") has declared null and void in part, the arbitral decision, and specifically, the portion of the decision which had ordered the joint and several payment by the Company, Vena Perú S.A. and Azulcochamining S.A. to Empresa Minera Los Quenuales S.A. ("LQ") of US$2,342,092.51 (the "Arbitral Award"). Under the decision issued by the Court, Vena is released from the requirement to make any payment pursuant to the arbitration until a new arbitral decision is issued. In addition, the Court has required that the arbitral tribunal reconsider the Arbitral Award and issue a new decision in respect of this matter. The Court decision also provided that each party is responsible for its own costs and expenses incurred in the judicial process.
For more information regarding the dispute, the arbitration and the Company's annulment application in the Peruvian courts seeking to set aside the arbitral award, see the Company's press releases of May 26 and October 8, 2014 and February 6 , July 31 and August 13, 2015 .
Vena will continue to actively pursue discussions as well as the legal processes it considers appropriate to resolve this dispute and further updates will be provided.
The TSX does not accept the responsibility for the adequacy or accuracy of this release.
SOURCE Vena Resources Inc.
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Vena Resources Inc.
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PRODUCTEUR |
CODE : VEM.V |
ISIN : CA9225893044 |
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Vena Res. est une société de production minière de zinc basée au Canada. Vena Res. est productrice de zinc, de manganese au Perou, et détient divers projets d'exploration au Perou. Son principal projet en production est AZULCOCHA au Perou et ses principaux projets en exploration sont ESQUILACHE, CARHUAZ, COMPIN, HUARANCHAL, HUARAZ, MASMA, PALLASCA, SANTIAGO DE CHUCO, HUAMACHUCO, AUCAMPAMPA PROSPECT, LAS PRINCESAS, PUCARA, MACUSANI, LAGUNILLAS, MUNANI et HUACHON au Perou. Vena Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 115,7 millions CA$ (110,3 millions US$, 82,0 millions €). La valeur de son action a atteint son plus bas niveau récent le 24 décembre 2004 à 0,20 CA$, et son plus haut niveau récent le 23 février 2007 à 1,91 CA$. Vena Res. possède 86 970 000 actions en circulation. |