Emerita Provides Update on Developments in Aznalcollar Court Proceedings, Spain
October 06 2021 - 7:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that the presiding judge of
Provincial Court No. 3 of Seville (the “Court”) has just rejected a
“last ditch” appeal (the “Appeals”) by the accused in the trial
relating to the awarding of the Aznalcollar public tender. The
judge has confirmed her previous ruling that the trial should
proceed to the final phase which includes sentencing of the guilty
parties. The Court has reconfirmed that crime(s) have been
committed. The Appeal will also be reviewed by the Provincial Court
of Appeal (the “Appeals Court”) which has been consistent in its
ruling throughout the entire trial process and where 5 judges
unanimously agreed that the trial should proceed. The Appeals Court
will see the same documents as have just been ruled on by the Court
and there will be no new information submitted. Given the Appeals
do not present any new facts or points of law it is expected the
Appeals will be dealt with quickly and the Appeals Court will limit
itself to reaffirming and ratifying its previous resolutions.
With the dismissal of these Appeals, the Court
can approve the “Oral Trial Opening Order” which confirms that the
investigative and evidentiary phase is complete and that the trial
can commence (the “Oral Trial”). The Public Prosecutor will summon
parties and provide an opportunity for them to modify their pleas
and defense briefs. Once completed, a judge will be appointed for
the Oral Trial to hear the final statements of all parties and
review the evidence. The investigation is concluded, and all
permissible evidence is before the court and once the concluding
statements from both sides are made the judge will be
appointed to determine the individual responsibilities and
penalties.
According to the Company’s external Spanish
legal counsel (“Counsel”), these appeals are viewed as attempts to
buy time by the accused as the process quickly nears a close and
they have essentially exhausted all avenues at this point. It is
anticipated the date will be set for the Oral Trial very soon after
completion of the Appeals Court’s review of the Appeals. It is
viewed by Counsel as a very positive development for Emerita and it
is particularly noteworthy that the Court reaffirms that crimes
have been committed. According to Emerita’s Counsel
this is a very important step, in that trials in Spain do not
proceed to this stage without certainty of guilt and it is very
rare that accused are found not guilty at this stage.
With respect to the title to the Aznalcollar
property, Emerita’s Counsel has advised the Company that under
Spanish law if there is commission of a crime in awarding a public
tender that bid must be disqualified and the tender must be awarded
to the next qualified bidder. Emerita is the only qualified bidder
in this particular tender. Further, the Court, in reviewing the
case during the previous appeal process, has indicated that the
other bid did not meet the requirements laid out in the tender
process and should have been disqualified on that basis. In the
settled title dispute related to the Iberia Belt West project, the
court’s ruling included very specific instructions with respect to
rectifying the awarding of the public tender. In that case it
resulted in Emerita obtaining the rights to the project.
David Gower, P.Geo., Emerita’s CEO, noted, “This
is an important outcome with respect to the Aznalcollar trial and
by extension the awarding of the Public Tender. This brings the
process a step closer to a conclusion. Counsel also advises that
this phase is generally not a long, protracted process as the
investigation is closed and no further evidence can be submitted
and appeals to delay the process are no longer permitted.”
About Emerita Resources
Corp.Emerita is a natural resource company engaged in the
acquisition, exploration and development of mineral properties in
Europe, with a primary focus on exploring in Spain. The Company’s
corporate office and technical team are based in Sevilla, Spain
with an administrative office in Toronto, Canada.
For further information, contact:
Joaquin Merino+34 (628) 1754 66 (Spain)
Helia Bento+1 416 566 8179
(Toronto)info@emeritaresources.com
Cautionary Note Regarding
Forward-looking Information
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the legal processes in Spain, the
likelihood of the Company obtaining the rights to the Aznalcollar
project and the Company’s future plans. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“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”, “might” or
“will be taken”, “occur” or “be achieved”. Forward- looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Emerita, as the case may
be, to be materially different from those expressed or implied by
such forward-looking information, including but not limited to:
general business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration
activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate the purchased
properties; foreign operations risks; and other risks inherent in
the mining industry. Although Emerita has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Emerita does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
NEITHER 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.
Emerita Resources (TSXV:EMO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Emerita Resources (TSXV:EMO)
Historical Stock Chart
From Apr 2023 to Apr 2024