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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Claude Cormier who wrote (5489)	11/22/2002 10:37:58 AM
From: TheBusDriver	Read Replies (1) of 39344

What is this about? Canadian Royalties Inc - News Release Ungava Minerals says arbitration bunk; seeks remedy Canadian Royalties Inc CZZ Shares issued 25,053,809 Nov 21 2002 close $ 2.60 Thursday November 21 2002 News Release See Ungava Minerals Corp (UNGV) News Release Mr. Lorne Albaum of Ungava Minerals reports UNGAVA MINERALS ARBITRATION DECISION RELEASED Ungava Minerals has received and reviewed the arbitration decision in connection with its dispute with Canadian Royalties. The arbitrator ruled that the company has "not met the burden of proof and [has] failed to establish by a balance of probabilities the essential facts necessary to justify the granting of any of the conclusions sought." The company believes that its claims for relief relating to Canadian Royalties' violations of the Jan. 12, 2002, option and joint venture agreement were not adjudicated or even mentioned. Additionally, the company perceives errors of fact and law in the award as well as vital findings of fact which are distinctly inconsistent in the light of uncontroverted evidence. The company's counsel will review the decision to determine what appeal or other legal remedy will be pursued. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com

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