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.
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.
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.
Executive Chairman and CEO
Red Cloud KS
Chad Williams/Sebastian de Kloet