From the Wires
Nord Iron Mines Inc.: Zone Resources Loses Motion to Move Jurisdiction of Lawsuit from Quebec
By: Marketwired .
Jan. 25, 2013 12:57 PM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/25/13 -- Nord Iron Mines Inc. (the "Company") announces it has successfully defended against a motion filed by defendants Zone Resources ("Zone") to move the jurisdiction of legal proceedings from Quebec to a British Columbia court room. Indeed, in her judgment, Justice Danielle Grenier held that the Superior Court of Quebec has "undoubtedly" jurisdiction to try the matter and that it was "not necessary to examine all criteria" which would have allowed the Court to defer its jurisdiction to the British Columbia courts as it "clearly appeared" from the Company's motion that the Quebec authorities were the only ones able to completely solve the matter. On September 19th 2012 Nord filed a statement of claim against Zone Resources, Marino Specogna, Ken C. Smith and Vendella Sonia, alleging inter alia, breach of contract and conspiracy surrounding a Mineral Claim Agreement dated July 24th, 2012. Nord's lawsuit relates to certain mineral claims located in the Labrador Trough, Quebec. Nord Iron Mines is seeking $3 million CAD in damages and/or a declaration of ownership from the Quebec Court. The proceedings will remain in the jurisdiction of the Quebec Superior Court, therefore all four defendants will need to defend themselves before such Court. Nord Iron Mines Inc. continues to assert ownership of the Labrador Trough iron ore claims and looks forward to the opportunity to have all the facts disclosed in open court.
To review Nord's claim and all other documents, please visit: www.nordironmines.com
On Behalf of the Board of Directors
NORD IRON MINES INC.
R. Bruce Duncan, President, CEO and Director
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements.
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