Mr. Richard Chetwode reports
HARRY WINSTON DIAMOND CORPORATION ANNOUNCES DISCONTINUANCE OF EKATI LITIGATION
Harry Winston Diamond Corp. has been served with a
formal notice of discontinuance of the court action brought by C. Fipke
Holdings Ltd. against BHP Billiton Canada Ltd., Harry Winston, Stuart
Blusson, Archon Minerals and various associated companies. The court
action related to Harry Winston's proposed purchase of BHP Billiton's
interests in the Ekati diamond mine. Harry Winston has been advised by
BHP Billiton that all of its joint venture partners have agreed to
waive their rights of first refusal in respect of the sale by BHP
Billiton to Harry Winston pursuant to their existing purchase
agreements. The discontinuance of the action and waivers of the rights
of first refusal permit the transactions between Harry Winston and BHP
Billiton to proceed, subject to satisfaction of closing conditions,
including regulatory approvals.
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