GoldQuest Announces Injunction Against its Activities in the Dominican Republic No attachments are included for this language.
GoldQuest Announces Injunction Against its Activities in the Dominican Republic
No attachments are included for this language.
VANCOUVER, British Columbia, March 27, 2018 (GLOBE NEWSWIRE) -- GoldQuest Mining Corp. (TSXV:GQC) (FRANKFURT:M1W) (BERLIN:M1W) ("GoldQuest" or
the "Company") reports that it has been advised that the Penal Chamber of the First Instance Court of the Judicial District of San Juan de la Maguana (the “Court”) has
reached a decision (the “Decision ”) in response to a Constitutional Injunction Remedy filed by a group of individuals in the Dominican Republic against the
Company’s wholly owned subsidiary, GoldQuest Dominicana SRL.
The only information the Company has at this time regarding the Decision is a verbal summary of the Decision that was delivered by a Court clerk. The written
Decision of the Court, including the reasons for the Decision, has not yet been issued and is expected in approximately one week. The summary of the Decision is
unclear in a number of respects and the Company is seeking to clarify the Decision with the Court.
The summary of the Decision included a requirement that the Company suspend its activities at its Romero Project until certain certificates and licenses are issued
in favor of the Company. The Company is seeking to clarify which certificates and licenses must be obtained before its activities can be re -commenced. In addition,
based on the information currently available, the Company is not able to determine the extent of its activities that must be suspended or the exact area the Decision
pertains to.
Once the Company has more information regarding the Decision it will work with its local counsel to consider its next steps and the possibility of challenging the
Decision.
The Company will issue a further news release once it has additional information regarding the Decision.
About GoldQuest
GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic. GoldQuest is traded on the TSX -V under the symbol GQC and
in Frankfurt/Berlin with symbol M1W.
Forward-looking statements:
Statements contained in this news release that are not historical facts are forward -looking information that involves known and unknown risks and uncertainties.
Forward-looking statements in this news release include, but are not limited to, statements with respect to the Decision of the Court, the details of the Decision, the
interpretation of the Decision, the impact of the Decision on the Company and its activities, the expected timing for the written Decision, the next steps of the Company
related to the Decision, and the Company's plans and expectations with respect to the Decision and its mineral properties, including the timing of such plans. In
certain cases, forward -looking statements can be identified by the use of words such as "plans", “seeking ”, "has proven", "expects" or "does not expect", "is expected",
"potential", "likelihood", "appears", "budget", "scheduled", "estimates", "forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or achievements expressed or implied by the forward -looking statements. Such risks and
other factors include, among others, risks related to uncertainties regarding the details of the Court Decision and the implications of the Decision on the Company
and its activities; the Company's ability to continue as a going concern; risks inherent in mineral exploration; risks related to operations in foreign countries; delays in
obtaining governmental approvals; government regulation of mining operations; environmental risks and the timing and possible outcome of litigation. Although the
Company has attempted to identify important factors that could affect the Company and may 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, do not place undue reliance on forward -looking statements. All statements are made as of the date of this news release and the Company
is under no obligation to update or alter any forward -looking statements except as required under applicable securities laws. Forward -looking statements are based
on assumptions that the Company believes to be reasonable, including expectations regarding the details and implications of the Decision of the Court; that the
Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the
Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties.
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 news release.
CONTACT INFORMATION
GoldQuest Corp.
Bill Fisher
Executive Chairman and CEO
+1-647-271-4505
Red Cloud KS
Chad Williams/Sebastian de Kloet
Investor Relations
1-877-919-5979
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