- The Precautionary Measures restore the ownership, rights and validity of all 32 of the concessions
- Macusani will control title for the 32 concessions for the duration of the legal process
- A Precautionary Measure is issued to guarantee the outcome of a judicial process and ensure compliance with the definitive judgment
The issuance of the Precautionary Measures restores all 32 concessions to Macusani and will suspend the application process initiated by INGEMMET for 92 of the 15 concessions listed as available on
“The resolutions granting these Precautionary Measures include clear statements from the presiding judge that support our assertions that Macusani has complied with the laws and regulations with regards to the payment of the good standing fees and related accreditation procedures for its concessions,” stated
The grant of the Precautionary Measures reinforces the Company’s assertions that Macusani made the 2017 annual validity rights payments for the concessions into INGEMMET’s bank account in compliance with its legal obligations under Peru’s General
The objective of the Precautionary Measure is to protect Macusani’s fundamental right to retain ownership of the 32 concessions. As part of the ordinary course in any judicial proceeding, the Precautionary Measures may be appealed but the effects of the granted judicial resolution will remain in place until there are no further appeals available.
As previously reported, Macusani is pursuing a two-pronged approach (administrative and judicial) to resolve this, and efforts to pursue a positive outcome within the administrative process continue in tandem with the judicial process.
More detail on this process, including the full background and chronology of events, is available in the news releases dated
About
For further information, please contact: | |||
Plateau Energy Metals Inc. | |||
President & Interim-CEO | Facebook: | www.facebook.com/pluenergy/ | |
+1-416-628-9600 | Twitter: | www.twitter.com/pluenergy/ | |
IR@PlateauEnergyMetals.com | Website: | www.PlateauEnergyMetals.com |
Neither
Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: (i) the status of the “Precautionary Measures” filed by Macusani (ii) the final results of the administrative process and judicial process to resolve the title for the 32 concessions; (iii) the status of the concessions in the INGEMMET database; and (iv) the outcome of any and all future remedies pursued by Plateau and its subsidiary Macusani to resolve the title for 32 of its concessions.
Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although the Company believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since the Company can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, the Company or others to attempt to reduce the spread of COVID-19 could affect the Company, which could have a material adverse impact on many aspects of the Company's business including but not limited to: the Company’s ability to access its properties for indeterminate amounts of time, the health of its employees or consultants resulting in delays or diminished capacity, social or political instability in
________________________________
1 The 15 concessions are: Chachaconiza; Chachaconiza II; Chapi III; Chapi "U"; Colibri II; Huarituña II; Huarituña 3;Lincoln XXXII; Ocacasa 4; Porsiaca Estrella; Samilio I; Tantamaco 6; Triunfador 4; Triunfador 2; and Tupuramani.
2 The 9 concessions are: Chachaconiza; Chachaconiza II; Chapi III; Chapi "U"; Huarituña II; Huarituña 3; Lincoln XXXII; Ocacasa 4; and Samilio I.
3 The 17 concessions are: Chapi II; Chapi V; Chilcuno;Colibrí I; Corani U2; Huarituña I; Huiquiza 3; Lincoln XXIX; Lincoln XXVI; Liocco; Tantamaco II; Triunfador 3; Samilio IV; Sillatoco; Tantamaco 7; Triunfador 1; and Triunfador 5.
Source:
2021 GlobeNewswire, Inc., source