ZUG, Switzerland, Dec. 17,
2018 /CNW/ - Katanga Mining Limited (TSX: KAT)
("Katanga" or the "Company") today announced that the
Ontario Securities Commission (the "Commission") has issued a
Notice of Hearing to consider the approval of a global settlement
agreement between Staff of the Commission and the Company, certain
of its former directors and officers and its Chief Executive
Officer relating to the previously disclosed investigation by Staff
into certain of the Company's historical disclosures.
The parties are required to keep the terms of the settlement
agreement confidential until the hearing.
The hearing will be held on December 18,
2018, at which time the Commission will consider whether it
is in the public interest to approve and give effect to the
settlement agreement by making certain orders against Katanga and
the individuals listed above as described in the settlement
agreement.
Katanga will not be making any further statements on this matter
until after the conclusion of the settlement hearing.
About Katanga Mining Limited
Katanga Mining
Limited operates a major mine complex in the Democratic Republic of Congo producing refined
copper and cobalt. The Company has the potential to become
Africa's largest copper producer
and the world's largest cobalt producer. Katanga is listed on the
Toronto Stock Exchange under the symbol KAT.
Forward Looking Statements
This press
release contains forward-looking statements, including statements
regarding the Company's intention to enter into a global settlement
agreement between Staff of the Commission and the Company, certain
of its former directors and officers and its Chief Executive
Officer relating to the previously disclosed investigation by Staff
into certain of the Company's historical disclosures; and the
Company's intention to submit the settlement agreement to
the Commission to consider and, if determined to be in
the public interest, approve, the global settlement
agreement. Often, but not always, forward-looking statements
can be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or describes a "goal", or variation of
such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved.
All forward-looking statements reflect the Company's beliefs
and assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements, including the assumption that the settlement agreement
will be approved by the Commission at the time and on the terms
agreed to with Staff of the Commission.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. Such factors include,
among others: the risk that the Commission will not approve the
settlement on the terms contemplated or at all; the risk that the
hearing will be delayed; litigation and other risks associated with
the settlement agreement; as well as those factors disclosed in the
Company's current annual information form and other publicly filed
documents. Although Katanga has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, 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 statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
The Company disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events, or otherwise, except in accordance with
applicable securities laws.
SOURCE Katanga Mining Limited