GEG.V News Ginguro Settles Pardo Joint Venture
Post# of 579
Posted On: 06/30/2014 9:43:06 AM
GEG.V News
Ginguro Settles Pardo Joint Venture Dispute
Ginguro Exploration Inc.
SUDBURY, ONTARIO--(Marketwired - Jun 30, 2014) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" ) is pleased to announce that it has reached an agreement to settle all aspects of its dispute with Endurance Gold Corporation ("Endurance" ) regarding the Pardo Joint Venture (the "Joint Venture" ). As a result of the settlement, the ongoing arbitration between the parties has been terminated.
The parties have agreed that Ginguro owns a 64.5% interest in the Joint Venture and Endurance owns a corresponding 35.5% interest in the Joint Venture. Endurance will pay Ginguro $100,000 towards past exploration expenditures.
Both Ginguro and Endurance are pleased with the settlement of the dispute and arbitration matters and look forward to the continued advancement of the Joint Venture, in particular the exploration activities being conducted under the 2014 Program, which commenced in May. Both companies are funding the current program in line with their respective JV ownership interests.
Ginguro Settles Pardo Joint Venture Dispute
Ginguro Exploration Inc.
SUDBURY, ONTARIO--(Marketwired - Jun 30, 2014) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" ) is pleased to announce that it has reached an agreement to settle all aspects of its dispute with Endurance Gold Corporation ("Endurance" ) regarding the Pardo Joint Venture (the "Joint Venture" ). As a result of the settlement, the ongoing arbitration between the parties has been terminated.
The parties have agreed that Ginguro owns a 64.5% interest in the Joint Venture and Endurance owns a corresponding 35.5% interest in the Joint Venture. Endurance will pay Ginguro $100,000 towards past exploration expenditures.
Both Ginguro and Endurance are pleased with the settlement of the dispute and arbitration matters and look forward to the continued advancement of the Joint Venture, in particular the exploration activities being conducted under the 2014 Program, which commenced in May. Both companies are funding the current program in line with their respective JV ownership interests.
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