Kinbauri Announces Legal Actions Against the Company
21 Mai 2009 - 12:51AM
Marketwired
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE: KNB)(FRANKFURT:
3KG.DE) announces that Jaguar Financial Corporation has commenced
an application in the Ontario Superior Court of Justice against
Kinbauri, its wholly-owned subsidiary, Kinbauri Espana S.L.
("Espana"), the directors of Kinbauri, Glen Eagle Resources Inc.
("Glen Eagle") (TSX VENTURE: GER) and Paradise Peaks Holdings, on
the basis that the business and affairs of Kinbauri have been
conducted in a manner that is oppressive, unfairly prejudicial to
and unfairly disregards the interests of the shareholders of
Kinbauri.
In addition, Orvana Minerals Inc. (TSX: ORV) has applied to the
Ontario Securities Commission for orders under the Securities Act
(Ontario): cease trading Kinbauri's proposed sale of 45% of Espana
to Glen Eagle; cease trading Kinbauri's proposed private placement
of up to 6 million units of Kinbauri; and ordering Kinbauri to
disclose publicly the text of its binding letter of intent and
agreements with Glen Eagle.
Kinbauri is currently reviewing the applications and will
respond as soon as possible.
This press release contains certain forward-looking statements,
which are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected. Kinbauri
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
FOR FURTHER INFORMATION VISIT:
Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where
investors can post questions and receive answers or review
questions and answers already posted by other investors. Kinbauri
Web-Site: www.kinbauri-gold.com.
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX
VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: North America Kinbauri Gold Corp. Darrell Munro, BB.A,
LL.B, Manager, Corporate Communications (613) 836-0198
dmunro@kinbauri-gold.com Kinbauri Gold Corp. Dr. Vern Rampton, P.
Eng. President (613) 836 2594 (613) 831 2730 (FAX)
vrampton@kinbauri-gold.com kinbauri@kinbauri-gold.com Kinbauri Gold
Corp. Brian McEwen, P Geol. Director (604) 551 6979
bmcewen@kinbauri-gold.com Europe INVESTEL Ruediger (Rudy) Hnyk CEO
Investor Relations & Telecommunications ceo@investel.de
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