Ms. Lori Price reports
KAIZEN DISCOVERY ANNOUNCES FURTHER POSITIVE RULING BY THE SUPREME COURT OF BRITISH COLUMBIA
Further to the judgment by the Supreme Court of British Columbia received on March 22, 2021, and announced by Kaizen Discovery Inc. on March 23, 2021, which concluded that the legal action initiated against the company by AM Gold was without merit, the trial judge has made a supplementary judgment dated Sept. 9, 2021, awarding special costs payable jointly by AM Gold and its principal, John Fiorino. The award of special costs is an extraordinary measure, imposed as a rebuke of AM Gold's conduct in advancing a meritless claim with fabricated evidence. The award entitles Kaizen to pursue a full indemnity for the costs it has incurred through a formal assessment process. Kaizen has incurred costs in excess of $2.7-million but the ultimate costs award may be varied in the assessment process.
"This legal action initiated by AM Gold has been a significant distraction to the company and we are very pleased by this recent judgment," commented Lori Price, chief financial officer of Kaizen Discovery.
AM Gold has commenced an appeal of the main trial judgment and has articulated the grounds in support of its appeal. Kaizen has filed a responding appeal argument and the appeal has now been set for hearing on Dec. 7, 2021. The costs recovery could also be impacted by an adverse outcome on the appeal.
About Kaizen Discovery Inc.
Kaizen is a Canadian mineral exploration and development company with exploration projects in Peru and Canada.
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