March 13, 2015
Skeena Confirms Lawsuit Filed Against Eilat Exploration Ltd.
Skeena Resources Limited (TSX.V: SKE
” or the “Company
”) confirms that Skeena and Keewatin Consultants (2002) Inc. (“Keewatin
”) have filed a lawsuit with the Supreme Court of BC against Eilat Exploration Ltd. (“Eilat
”) to enforce a Pooling Agreement amongst Skeena, Keewatin and Eilat.
Eilat and Keewatin were the vendors of the Spectrum property to Skeena. The Asset Purchase agreement and the Pooling Agreement were signed by the three parties on April 14, 2014 during which time Skeena stock was halted from trading. The Pooling Agreement became effective on October 27, 2014 when Eilat and Keewatin were issued 80 million shares in conjunction with the closing of the Spectrum property acquisition and in accordance with the purchase terms agreed to on April 14, 2014.
Skeena is not commenting further at this time and the matter is before the courts. Skeena believes that Eilat’s allegations are unfounded and without merit.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITEDWalt Coles Jr., President & CEONeither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release
|For Further Information Contact: Walt Coles Jr., President & CEO or Tony Perri - Investor Relations, Manager |
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