Kinbauri Gold Corp. - Company Update.CARP, ONTARIO--(BUSINESS WIRE)--March 15, 1995--KINBAURI GOLD CORP. (CANADIAN DEALING NETWORK:KNBR) On March 10, 1995, International African Mining Gold Corporation ("IAMGOLD") filed a statement of claim in the Ontario General Court against Kinbauri Gold Corporation ("Kinbauri") and two other parties for damages of $10,000,000 for breach of fiduciary duty, conspiracy and champerty champerty n. an agreement between the party suing in a lawsuit (plaintiff) and another person, usually an attorney, who agrees to finance and carry the lawsuit in return for a percentage of the recovery (money won and paid.) In Common Law this was illegal on the theory that it encouraged lawsuits. Today it is legal and often part of a "contingent fee" agreement between lawyer and client.. Kinbauri and its co-defendants believe the claim to be completely without merit and a malicious attempt to force Kinbauri to withdraw or delay its present suit against IAMGOLD, also for damages of $10,000,000 and specific performance; Kinbauri will vigorously defend this claim and pursue its own claim to a speedy conclusion. CONTACT: Dr. V.N. (Vern) Rampton (613) 836-2594 (613) 831-2730 (Fax) |
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