C2C Gold Corporation Inc. Announces Arbitration Proceedings in Ecuador
September 08 2009 - 10:05AM
Marketwired
C2C Gold Corporation Inc. ("C2C")(TSX VENTURE: CCN) announces that
arbitration proceedings must be initiated to force profit sharing
in connection with its Joint Venture gold mine in Ecuador. C2C
estimates that it is owed $200,000 per month, for a total of
$1,200,000.
C2C is presently devoting all available resources to the
resolution of this impasse. C2C is actively insuring that the terms
of its Joint Venture agreement are upheld and has sought local
legal representation.
This situation will most likely have direct implications on
current financing facilities which C2C was currently negotiating
with Swiss investors regarding a gold loan.
About C2C
C2C is an active gold producer working in south western Ecuador
through a Joint Venture exploiting the Paraiso-Pambil gold
mine-mill complex.
Forward-looking statements contained in this press release
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance and achievements to be
materially different from any future results.
Number of issued and outstanding shares: 103,404,344
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.
Contacts: C2C Gold Corporation Inc. Louis Lessard Chairman of
the Board of Directors 1-418-650-4171 C2C Gold Corporation Inc.
Jean-Francois Lemay Corporate Development and Investor Relations
1-514-214-8388 www.c2cgoldcorporation.com
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