News and Announcements
Status of Acquisition of Kazakhstan Projects
- Published January 09, 2012 1:37PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
The vendors of the Kazakhstan Projects have notified Ji’an Resources that due to alleged breach in the completion of the acquisition of the Kazakhstan Projects, the vendors have brought Arbitration proceedings in Kazakhstan in order to seek to terminate the sale and purchase agreement between the vendors anf Ji’an Resources. This has eventuated as a result of the communications by a former Director of Ji’an Resources in the form of unauthorized representations to the vendors of the Kazakhstan Projects without Ji’an Resources Board consent. The company is responding to this issue in conjunction with legal counsel in Kazakhstan and Hong Kong.
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