Pacific Wildcat Resources Corp (PWCRF)

[Rocketred]

Pacific Wildcat's Kenya arbitration registered by ICSID



2015-07-10 12:06 ET - News Release



Mr. Don O'Sullivan reports

ICSID REGISTERS CMK'S REQUEST FOR ARBITRATION AGAINST KENYA

The International Centre for Settlement of Investment Disputes (ICSID) has registered the request for arbitration filed by Pacific Wildcat Resources Corp.'s subsidiaries Cortec Pty. Ltd. and Stirling Capital Ltd. As previously advised, Cortec Mining Kenya, a company under the control of Cortec Pty. and Stirling, is also a claimant in the proceedings.

The arbitration was registered by ICSID on July 7, 2015, as "ICSID case No. ARB/15/29."

The effect of registration is that the arbitration against Kenya is now deemed formally commenced under the ICSID convention.

The next steps relate to the appointment of arbitrators and the constitution of the arbitral tribunal.

Cortec Mining Kenya's chairman, Don O'Sullivan, commented, "We are pleased that the arbitration is moving ahead, and we look forward to the dispute with Kenya being resolved through the ICSID process."

Basic procedural details of the case are available on the ICSID website.

The company will provide further information as the matter progresses.

We seek Safe Harbor.

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