Endurance Gold Corporation (EDG - TSX.V, "Endurance" or "the Company") has delivered a statement of defence and initiated a counter-claim as part of the arbitration proceeding launched by Ginguro Exploration Inc. and their 100% owned subsidiary Mount Logan Resources Ltd. (collectively, "Ginguro") regarding the Pardo Joint Venture ("Pardo JV"). The Pardo JV includes 16 claims that are jointly owned by Endurance and Ginguro ("JV Property"). Ginguro also owns about 88 claims which encompass the external boundaries of the Pardo JV Property.
The Honourable Dennis O'Connor, Q.C. of the Arbitration Place, has now been appointed by the Company and Ginguro as Arbitrator in the dispute. The Honourable O'Connor sat on the Court of Appeal for Ontario from 1998 to 2012. He served as the Associate Chief Justice of Ontario from 2001 until he retired at the end of 2012. He also served as a deputy judge of the Yukon Supreme Court. For the 18 years before his appointment to the Court of Appeal, he was a senior counsel for the predecessor firm to Borden Ladner Gervais LLP. His practice focused on commercial and public law litigation.
The statement of defence rejects Ginguro's claim of 70.95% joint venture ownership and denies that Ginguro is entitled to any of the declarations, orders, costs or further and other relief sought.
The counter-claim alleges that Ginguro have:
- breached their contractual obligations under the joint venture agreement with Endurance,
- made inaccurate representations to Endurance,
- breached their fiduciary duties, and
- acted oppressively, with unfair prejudice and unfair disregard of the interests of Endurance.
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