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Marquee drags Canadian company to court

3rd April 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Marquee Resources has started legal proceedings against Canada-based Belmont Resources.

The two companies in late 2021 struck an agreement under which Marquee could acquire up to an 80% interest in the Kibby Basin lithium project and the Lone Star copper/gold project.

Under the Kibby Basin agreement, Marquee will pay C$100 000 in cash and will spend up to $2.5-million on the project, while also issuing three-million shares in the company to Belmont.

Marquee said on Monday that despite having satisfied these conditions, and Belmont having acknowledged that the company had done so, Belmont had not yet transferred or registered the 80% interest in the Kirby Basin project into the name of Marquee Resources.

Marquee has now started legal proceedings against Belmont in the Supreme Court of British Columbia.

Edited by Creamer Media Reporter

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