Mercer Gold Corporation Cites Actions of Former CEO Rahim Jivraj in Legal Action
Published: October 13, 2011 VANCOUVER, British Columbia, Oct. 13, 2011 /PRNewswire/ -- Mercer Gold Corporation (the "Company") (MRGP-OTCQB, AN4-Frankfurt) is reporting in furtherance of its recent successful consent orders issued by the British Columbia Supreme Court restraining and enjoining each of Rahim Jivraj, the former President, CEO and a former director of the Company ("Jivraj") and Mercer Gold Corp. ("Mercer BC"), a privately held British Columbia company owned and/or controlled by Jivraj, from certain actions interfering with the Company's activities as operator of the Guayabales Gold Project in Colombia and interfering with the Company's rights as optionee under the Mineral Assets Option Agreement, dated for reference effective as at April 13, 2010 (the "Option Agreement"), between the Company and Mercer BC and relating to the Guayabales Gold Project, pending hearing on the Company's notice of application with respect to such matter. The Company had sought such injunctive relief, as announced in the Company's press release dated September 20, 2011. The Company has invoked the arbitration provision in the Option Agreement and this matter is being scheduled to be heard by the BC International Commercial Arbitration Centre in Vancouver.
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