De Beers ends Forte a la Corne case

Voting Agreement is confirmed as a valid agreement by the courts
De Beers ends Forte a la Corne case

SHORE GOLD said that the previous action announced by De Beers Canada against Shore, Kensington Resources and two other defendants has been dismissed with the consent of all parties. Now De Beers will not be able to pursue any further appeal.

According to reports, Kenneth E. MacNeill, Shore Golds president and CEO, believes that this dismissal will end any potential appeal by De Beers to the Supreme Court of Canada. The Voting Agreement has been confirmed as a valid agreement by the courts.

De Beers had sought a declaration that the Voting Agreement relating to the Fort a la Corne Joint venture (FALC JV) was void. Also an injunction to restrain the defendants from holding a management committee meeting of the FALC JV for voting was sought. De Beers sought to restrain defendants from using the Voting Agreement in connection with a management committee vote.


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