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AMI Resources Inc (2)
Symbol AMU
Shares Issued 12,734,197
Close 2014-10-28 C$ 0.01
Market Cap C$ 127,342
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AMI fails to prove claim re Lake Botsumtwi zone

2014-10-31 14:37 ET - News Release

Mr. Dustin Elford reports

COMMERCIAL COURT GHANA RULES AGAINST AMI AFRICA

AMI Resources Inc. has been advised by its legal counsel in Ghana, that the High Court of Justice -- Commercial Division has ruled against AMI Africa Exploration Ltd. in its claim against the government for compensation as a result of its establishment of a restricted non-economic zone around Lake Botsumtwi in 2007.

The company has not yet received a copy of the judgment but some points the judge reflected on to its legal counsel were:

  1. AMI knew of the creation of the restricted zone since 1996/1997.
  2. The decision was based on consistent policy.
  3. AMI didn't do any scientific research to challenge the government decision to create the 10-kilometre restricted zone.
  4. Prof. Ayensu's report has no value at all so she didn't refer to it.

Once the company receives a copy of the judgment it will review its appeal options with legal counsel.

We seek Safe Harbor.

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