Northern Superior Resources Inc.: Ontario Superior Court of Justice Issues Adverse Cost Award
(firmenpresse) - SUDBURY, ONTARIO -- (Marketwired) -- 08/29/16 -- Northern Superior Resources Inc. (TSX VENTURE: SUP) ("Northern Superior" or the "Company") advises that Ontario Superior Court of Justice has ordered the Company to pay an aggregate of $440,569.89 in costs to the Province of Ontario in connection with the Company''s recent lawsuit against the Province. Although the Company was unsuccessful at trial (see Press Release dated May 25, 2016) both the trial decision and the cost award are now under appeal to the Ontario Court of Appeal and the Company will not be required to pay any amount to the Province until the appeal has been heard and a decision rendered. If the appeal of the trial decision is successful, the cost award will most likely be vacated. In addition, even if the Company is not successful in overturning the trial decision, the Court of Appeal could still reduce or even vacate the cost award in any event.
About Northern Superior Resources Inc.
Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Croteau Est property in Quebec and its Ti-pa-haa-kaa-ning property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and Quebec.
Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Neither the 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:Thomas F. Morris PGeo., PhD., FGACPresident and CEO(705) 525 -0992(705) 525 -7701 (FAX)
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Datum: 29.08.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 1454938
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Mining & Metals
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