Trading symbol (TSX-V): RML
VANCOUVER, June 25, 2015 /CNW/ - Rusoro Mining
Ltd. (the "Company" or "Rusoro") (TSXV: RML) announced
today that the parties have completed their oral and written
submissions in Rusoro's arbitration against the Bolivarian Republic
of Venezuela before the World
Bank's International Centre for Settlement of Investment Disputes
("ICSID"), in accordance with the provisions of the
Canada-Venezuela Bilateral Investment Treaty ("BIT").
Rusoro's claims allege violations by Venezuela of several guarantees of the
Canada-Venezuela BIT, including by expropriating its investments in
Venezuela without adequate
compensation, by failing to accord to its investments fair and
equitable treatment and full protection and security, and by
failing to guarantee Rusoro the unrestricted transfer of its
investments and returns in Venezuela.
Rusoro seeks compensation for all of its losses caused by
Venezuela's breaches of the BIT
based on a valuation performed by an independent expert. Rusoro now
awaits the issuance of a final award by the arbitral tribunal.
Andre Agapov, President &
CEO, stated "We are pleased to have reached this important
milestone in our dispute with Venezuela. We are confident that the final
award will order payment of fair-value compensation for the taking
of our significant investment in Venezuela".
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov, President &
CEO
Forward-looking statements:
This document contains statements about expected or
anticipated future events and financial results that are
forward-looking in nature and as a result, are subject to certain
risks and uncertainties, such as general economic, market and
business conditions, the regulatory process and actions, technical
issues, new legislation, competitive and general economic factors
and conditions, the uncertainties resulting from potential delays
or changes in plans, the occurrence of unexpected events, and the
Company's capability to execute and implement its future plans.
Actual results may differ materially from those projected by
management. For such statements, we claim the safe harbour for
forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.
"Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release."
SOURCE Rusoro Mining Ltd.