3 unchanged sentences
These provisions are based on current information and legal advice and may be adjusted from time to time according to developments.
−Removed: Our subsidiary Kaizen is currently involved in litigation in British Columbia, Canada which commenced in 2017.
−Removed: The proceedings relate to a claim by AM Gold Inc.
−Removed: (“AMG”) against Kaizen in respect of its acquisition of the Pinaya Project.
−Removed: On September 2, 2022, the Supreme Court of Canada dismissed the application of AMG seeking leave to appeal the January 21, 2022 decision of the British Columbia Court of Appeal.
−Removed: The British Columbia Court of Appeal decision upheld the March 23, 2021 decision of the trial judge which dismissed all of AMG’s claims against Kaizen.
−Removed: There is no further avenue of appeal or review available to AMG from the Supreme Court of Canada’s judgment.
−Removed: AMG and its principal John Fiorino are required to pay Kaizen’s costs in connection with the trial, the appeal and the Supreme Court of Canada proceeding on a party and party basis under the applicable court tariffs.
−Removed: Kaizen is in the process of pursuing those
−Removed: Kaizen will have to pay AMG’s costs with respect to a successful appeal by AMG regarding the trial judge’s initial substantial indemnity costs award.
−Removed: In addition, our subsidiary, Cordoba, is currently involved in two legal proceedings.
+Added: Our subsidiary Cordoba is currently involved in two legal proceedings.
The first is a criminal lawsuit filed by Cordoba in late 2018 and in January 2019 with the Colombian prosecutors against nine members of former Colombian management alleging breach of fiduciary obligations, abuse of trust, theft and fraud.
4 unchanged sentences
The Council of State determined the Administrative Court of Montería as the competent tribunal, where the process is currently being conducted.
−Removed: The Administrative Court of Montería admitted the commencement of the class action in September 2021.
+Added: The Administrative Court of Montería admitted the commencement of the class action on September 2021.
The decision was challenged by Cordoba and other defendants and confirmed by the Court.
−Removed: Cordoba timely filed its response to the lawsuit and statement of defense as well as its opposition to the injunction requested by the plaintiffs.
−Removed: Cordoba is currently waiting for the Court to issue a decision on the injunction and to schedule a date and time for the initial hearing.
+Added: Cordoba timely filed its:
+Added: (i) response to the lawsuit and statement of defense;
+Added: and (ii) opposition to the injunction requested by plaintiffs.
+Added: The Court now should:
+Added: (i) issue a decision on the injunction;
+Added: and (ii) schedule date and time for the initial hearing.
While the court matters proceed, Cordoba will incur additional costs that will negatively impact its financial position.
−Removed: As well, the litigation process is uncertain and it is possible that the second proceeding is resolved against Cordoba, which could have a material adverse effect on its business, results of operations, financial condition (including our cash position) and prospects.
+Added: As well, the litigation process is uncertain and it is possible that the second proceeding is resolved against Cordoba, which could have a material adverse effect on its business, results of operations, financial condition and prospects.
Mine Safety Disclosures
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.