Lupaka Provides Mid-Year Update on Arbitration Claim before the International Centre for Settlement of Investment Disputes
Lupaka Provides Mid-Year Update on Arbitration Claim
before the International Centre for Settlement of Investment
Disputes
VANCOUVER, BRITISH COLUMBIA May 28, 2021 – Lupaka Gold Corp. ("Lupaka" or
the “Company") (TSX-V: LPK, FRA: LQP) provides an update on progress with its
international arbitration claim against the Republic of Peru.
Since our previous update of February 2021, a number of important steps have been
achieved in the arbitration process. These include:
1. The International Centre for Settlement of Investment Disputes (ICSID) has appointed
the presiding arbitrator. The Tribunal held its first session together with the Parties on
April 13, 202;
2. The Company has selected a Quantum Expert who is tasked with preparing a detailed
evaluation of the Company’s claim. This evaluation is progressing well and will be the
basis for the value of the Company’s claim against the Republic of Peru;
3. A definitive time schedule has been agreed to between the parties and the ICSID
Tribunal. Lupaka will file its Memorial in September 2021; and
4. The Company and its legal team at Lalive continue to build the case. Document
review and interviews with former employees and related personnel are progressing on
schedule and with good success.
Overall, the case is developing as forecast, and both the Company and its legal team
have a growing sense of confidence in achieving a successful outcome.
For ongoing updates with respect to the arbitration, please refer to the Company’s
website (www.lupakagold.com/projects/arbitration).
For background on the basis for the arbitration please refer to the Company’s previous
news releases, also available on the website (www.lupakagold.com/news/#2020).
With respect to the arbitration proceedings, Lupaka is represented by the international
law firm, LALIVE (www.lalive.law), and has the financial backing of Bench Walk Advisors
(www.benchwalk.com).
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy of this news release.
About Lupaka Gold
Lupaka is an active Canadian-based company focused on creating shareholder value
through identification and development of mining assets.
About Bench Walk Advisors
Bench Walk Advisors is a global litigation financier with over USD 250m of capital
deployed across in excess of 100 commercial cases. Bench Walk and its principals
have consistently been ranked as leading lawyers and litigation funders in various global
directories.
About LALIVE
LALIVE is an international law firm with offices in Geneva, Zurich and London, that
specializes in international dispute resolution. The firm has extensive experience in
international investment arbitration in the mining sector, amongst others, and is currently
representing investors and States as counsel worldwide.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Ellis, C.E.O.
Tel: (604) 985-3147
or visit the Company’s profile at www.sedar.com or its website at www.lupakagold.com