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Montauk Metals Provides Update on Arbitration Process

Montauk Metals Provides Update on Arbitration Process

蒙托克金屬公司提供仲裁程序的最新情況
GlobeNewswire ·  2023/09/02 03:12

TORONTO, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Montauk Metals Inc. (TSX-V: MTK) (the "Company" or "Montauk") today announces that further to its news releases of March 27, 2018, February 25, 2019, February 10, 2020, and November 23, 2021, the arbitration brought by the Company against the Republic of Colombia (the "Arbitration") to enforce the Company's rights to compensation under the Canada-Colombia Free Trade Agreement (the "FTA") has been suspended pending a resolution of funding the costs of the arbitration panel.

多倫多,9月環球通訊社2023年1月1日-Montauk Metals Inc.(多倫多證券交易所股票代碼:MTK)(The“The”)公司“或”蒙托克“)今天宣佈,繼2018年3月27日、2019年2月25日、2020年2月10日和2021年11月23日發佈的新聞稿後,本公司對哥倫比亞共和國(”仲裁“)執行公司根據《加拿大-哥倫比亞自由貿易協定》(《自貿區“)已暫停,等待為仲裁小組提供經費的決議。

The Arbitration is being conducted in two phases. Phase One is a determination of jurisdiction and liability issues. Phase Two is a determination of damages, discovery jurisdiction and liability as found. Montauk contends that Colombia breached its obligations owed to Montauk, including specific obligations under the FTA. The claims include Colombia's refusal or failure to compensate the Company for the losses incurred as a consequence of Colombia's prohibition of mining in the páramos (high altitude eco-systems).

仲裁分兩個階段進行。第一階段是確定管轄權和責任問題。第二階段是確定損害賠償、證據開示管轄權和認定的責任。Montauk辯稱,哥倫比亞違反了其對Montauk的義務,包括自由貿易協定規定的具體義務。這些索賠包括哥倫比亞拒絕或未能賠償公司因哥倫比亞禁止在páRamos(高海拔生態系統)採礦而蒙受的損失。

Montauk is currently reviewing the status of the Arbitration and the merits of pursuing further funding to recommence the Arbitration. The final outcome of the Phase One Arbitration and the eventual outcome of the Phase Two Arbitration cannot be predicted at this time. Certain costs of the proceedings including legal and arbiter costs have exceeded the original estimates and the Company has also had to pay Colombia's half of the arbiter fees. The total cost to obtain a final resolution to the Arbitration is unknown at this time; however, the Company expects that the cost would be a minimum of US$400,000 to conclude the Phase One jurisdiction and liability ruling. The Company has a cash balance of approximately $100,000 and is contesting $473,000 in legal fees representing a portion of the legal fees it has paid to date.

蒙托克目前正在審查仲裁的狀況以及尋求進一步資金以重新啟動仲裁的好處。目前還不能預測第一階段仲裁的最終結果和第二階段仲裁的最終結果。訴訟程式的某些費用,包括法律和仲裁人費用,超出了最初的估計,公司還不得不支付哥倫比亞的一半仲裁人費用。目前尚不清楚獲得仲裁最終解決方案的總成本;然而,本公司預計完成第一階段司法管轄權和責任裁決的成本將至少為400,000美元。該公司的現金餘額約為10萬美元,正在爭奪47.3萬美元的法律費用,這是它迄今支付的法律費用的一部分。

The Company is very mindful of balancing the potential for reward against the cost of share dilution arising pursuant to a financing. There can be no assurance that the Company will proceed with the Arbitration at this time given the need for a financing. Management of the Company has not been successful in sourcing funding from institutional, individual or litigation funding investors. In particular, several litigation funding groups have been approached and there has been no interest to support the Arbitration at this time. The Arbitration will be dismissed by November 9, 2023, if no decision is made to proceed and to continue funding the costs. The Company will continue solicit funding, but there can be no guarantee that the Company will be able to obtain funding on commercially attractive terms or at all. Management of the Company will continue to provide updates on material developments of the status of the Arbitration.

該公司非常注意平衡潛在的回報和因融資而產生的股份稀釋成本。鑑於融資的需要,不能保證該公司此時將繼續進行仲裁。本公司管理層未能成功地從機構、個人或訴訟資金投資者那裡獲得資金。特別是,已經與幾個訴訟資助團體接洽,目前沒有興趣支持仲裁。如果沒有決定繼續進行並繼續為費用提供資金,仲裁將在2023年11月9日之前被駁回。該公司將繼續徵集資金,但不能保證該公司將能夠以具有商業吸引力的條款或根本不能獲得資金。公司管理層將繼續提供仲裁狀況的實質性發展的最新情況。

Montauk Metals Inc.
Robert Suttie
Chief Financial Officer
416-848-6865

Montauk Metals Inc.
羅伯特·薩蒂
首席財務官
416-848-6865

Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Montauk's future plans, objectives or goals, including words to the effect that Montauk or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Montauk, Montauk provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the status of the Arbitration, the mertisand the associated costs of continuing the Arbitration and the availability of funds and the potential share dilution. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the inability to reinstitute the Arbitration for any reason, costs of the Arbitration for amounts which are in excess of anticipated amounts, an inability to fund the Arbitration on terms which are economic or at all, an inability on the part of the Company to succeed on Phase One and Phase Two of the Arbitration and the resulting failure to recover damages in respect of the termination of the Reina de Oro project with a complete loss of all costs incurred in respect of the Arbitration, any change in the legal landscape which could render the Company's pursuit of the Arbitration more or less promising, any change in the legislation, policy and/or jurisprudence of Colombia and/or Canada which could impact the ability of the Company to recover damages in respect of the termination of the Reina de Oro project, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and those risks set out in Montauk's public documents filed on SEDAR. Although Montauk has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. There can be no assurance that forward-looking information will prove to be accurate. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding Montauk's plans, objectives, and goals and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Montauk does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

有關前瞻性陳述的注意事項: 本新聞稿包括一些不包含歷史事實的“前瞻性陳述”。前瞻性陳述包括描述Montauk的未來計劃、目標或目標的估計和陳述,包括Montauk或管理層預計將出現的情況或結果。前瞻性陳述可以用“相信”、“預期”、“預期”、“估計”、“可能”、“將”或“計劃”等術語來識別。由於前瞻性陳述以假設為基礎,涉及未來的事件和情況,因此它們本身就具有內在的風險和不確定性。儘管這些陳述是基於Montauk目前掌握的資訊,但Montauk不能保證實際結果將符合管理層的期望。前瞻性資訊涉及的風險、不確定性和其他因素可能導致實際事件、結果、業績、前景和機會與此類前瞻性資訊明示或暗示的情況大不相同。本新聞稿中的前瞻性資訊包括但不限於仲裁的現狀、合併和合並的情況以及繼續仲裁的相關成本和資金的可獲得性以及潛在的股份稀釋。可能導致實際結果與此類前瞻性資訊大不相同的因素包括但不限於因任何原因無法重新提起仲裁, 超過預期金額的仲裁費用,無法按經濟條款或根本不經濟條款為仲裁提供資金,公司無法在仲裁的第一階段和第二階段取得成功,並因此未能追回因終止Reina de Oro專案而導致與仲裁有關的所有費用完全損失的損害賠償,法律環境的任何變化,可能使公司尋求仲裁的前景或多或少有希望的任何變化,法律上的任何變化,哥倫比亞和/或加拿大的政策和/或判例可能會影響公司追回與Reina de Oro專案終止有關的損害賠償的能力、政治風險、與未來所需融資的可用性和成本有關的不確定性、股票市場的變化、通貨膨脹、匯率變化、大宗商品價格波動以及Montauk提交給SEDAR的公開檔案中列出的風險。儘管Montauk試圖確定可能導致實際行動、事件或結果與前瞻性資訊中描述的行動、事件或結果大不相同的重要因素,但可能存在其他因素導致行動、事件或結果與預期、估計或預期的不同。不能保證前瞻性資訊將被證明是準確的。本文中包含的前瞻性資訊是為了幫助投資者瞭解Montauk的計劃、目標和目標,可能不適合用於其他目的。因此,讀者不應過分依賴前瞻性資訊。蒙托克不承諾更新任何前瞻性資訊,除非符合適用的證券法。

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.

多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。


譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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