Cascadero Copper Corporation: Settlement of Electrum Resource Corp Lawsuit.VANCOUVER, British Columbia -- Cascadero Copper Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CCD CCD in full charge-coupled device Semiconductor device in which the individual semiconductor components are connected so that the electrical charge at the output of one device provides the input to the next device. ) A lawsuit by Electrum electrum Natural or artificial alloy of gold with at least 20% silver, used to make the first known coins in the Western world. Most natural electrum also contains copper, iron, palladium, bismuth, and perhaps other metals. Resource Corp , a private British Columbia company, filed in the Supreme Court of British Columbia The Supreme Court of British Columbia (SCBC) is the superior trial court for the Canadian province of British Columbia. The SCBC hears civil and criminal law cases as well as appeals from the Provincial Court of British Columbia. on June 22nd, 2005 has been settled to the mutual satisfaction of both parties. Under the terms of the settlement: - Cascadero can further reduce the net smelter royalty held by Electrum on the applicable claims from 2% to 1.5% on precious metals and to 1.0% on base metals by payment of a further $1.5 million to Electrum; - Electrum will exchange 3 million shares of Stealth Minerals Limited (TSX VENTURE:SML) for 2 million shares of Cascadero Copper, which reduces Stealth's control block of Cascadero to 22 million shares; - Electrum has agreed not to litigate against Cascadero or Stealth in the future. THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cascadero Copper Corp. (TSX VENTURE:CCD) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion