07:08:40 EDT Thu 28 Mar 2024
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Kaizen Discovery Inc (2)
Symbol KZD
Shares Issued 65,828,426
Close 2022-01-21 C$ 0.54
Market Cap C$ 35,547,350
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Kaizen litigant AM Gold's appeal dismissed by court

2022-01-21 18:21 ET - News Release

Mr. Eric Finlayson reports

KAIZEN DISCOVERY ANNOUNCES POSITIVE RULING BY THE BRITISH COLUMBIA COURT OF APPEAL

The appeal lodged by AM Gold following the March 22, 2021, dismissal of its legal action against Kaizen Discovery Inc. by the Supreme Court of British Columbia has itself been dismissed by the British Columbia Court of Appeal, which concluded that no errors were made in the trial judge's reasoning and that "there is no basis upon which this court should interfere." The judgment is available on the Court of Appeal's website.

The trial judge made a supplementary judgment dated Sept. 9, 2021, awarding "special costs" payable jointly by AM Gold and its principal, John Fiorino (refer to Kaizen's press release dated Sept. 13, 2021). The award entitles Kaizen to pursue an indemnity for the costs it has incurred through a formal assessment process. Kaizen has incurred costs in excess of $3.2-million but the ultimate costs award may be varied in the assessment process.

Kaizen's interim president and chief executive officer, Eric Finlayson, commented: "As anticipated, the AM Gold appeal was found to be without merit. AM Gold and its principal John Fiorino have also appealed the Sept. 9, 2021, Supreme Court order that AM Gold and Mr. Fiorino personally pay Kaizen's costs on an indemnity, special costs basis. We look forward to the hearing of that appeal and eventual recovery of the costs that we have been forced to incur in defending this litigation."

About Kaizen Discovery Inc.

Kaizen is a Canadian mineral exploration and development company with exploration projects in Peru and Canada.

We seek Safe Harbor.

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