Ucore Granted Interlocutory Injunction to Preser

Ucore Granted Interlocutory Injunction to Preserve the Right to Acquire IBC





V.UCU | 13 days ago



Halifax, Nova Scotia--(Newsfile Corp. - December 5, 2019) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company" is pleased to announce that on December 4, 2019, the Supreme Court of Nova Scotia (the "Court" orally granted the interlocutory injunction (the "Injunction" requested by Ucore against IBC Advanced Technologies, Inc. and Steven R. Izatt (collectively "IBC". The Injunction shall remain in place until the conclusion of the trial regarding the December 11, 2018 action (as amended) brought forth by Ucore against IBC.

The Injunction will require IBC and its material assets be preserved for eventual possible purchase by Ucore, pending the outcome of the trial, while allowing IBC to continue to run its day to day business, within any market sector, so long as such is in compliance with the terms of the Option Agreement.

The order has not yet been issued and the explicit wording of the order has not yet been set.

"We're very appreciative of the Court's swift decision to preserve the Company's disputed right to acquire IBC while the litigation process makes its way through the Court," stated Jim McKenzie, President & CEO of Ucore. "The next step in the Nova Scotia case is the disclosure of documentation period leading to examinations for discovery."

My guess Mr Izatt is not sleeping well at night



JMHO