Tombstone Exploration Corp. Receives Entitlement to a 20% Direct Interest in EuroGas Inc.'s Potential Damage Award Against th...
2014年1月14日 - 11:00PM
Marketwired
Tombstone Exploration Corporation Receives Entitlement to a 20%
Direct Interest in EuroGas Inc.'s Potential Damage Award Against
the Slovak Republic
PHOENIX, AZ--(Marketwired - Jan 14, 2014) - Tombstone
Exploration Corporation (OTCQB: TMBXF) (BERLIN: UDNA) announced
today the receipt of an entitlement of a 20% direct interest in
EuroGas Inc.'s ("EuroGas") potential award from EuroGas' pending
damage lawsuit against the Slovak Republic. This is in
addition to the direct 26% interest in EuroGas AG of Zurich,
Switzerland, an international Natural Resources Holding Company, as
announced on December 10, 2013.
In an Addendum Agreement to the December 10, 2013
'Stock-For-Stock Exchange Agreement,' EuroGas has now also agreed
to an assignment of a direct 20% interest of EuroGas' large damage
claim against the Slovak Republic to TMBXF, subject only to
EuroGas' own legal fees and total financing charges in connection
with the legal proceedings of EuroGas' damage lawsuit against the
Slovak Republic. Tombstone is not required to extend any additional
benefit to EuroGas for this entitlement.
The entire legal costs of EuroGas' Arbitration proceedings
against the Slovak Republic are fully funded by a large Luxembourg
based European Investment Fund. On October 26, 2012, EuroGas had
entered into a Financing Agreement with the European Investment
Fund, which has undertaken to finance the entire legal costs of
EuroGas' Arbitration proceedings against the Slovak Republic in
consideration for profit participation.
On December 23, 2013 EuroGas Inc., the controlling shareholder
of TMBXF, has served the President of the Slovak Republic, a
Sovereign European State and Full Member of the European Union,
with a Final "Notice of Dispute" to commence legal proceedings
against the Slovak Republic after January 31, 2014 before an
International Arbitration Court of the World Bank (ICSID) in
Washington D.C., under the Bilateral Investment Treaty (BIT)
between the United States of America and the Slovak Republic,
claiming substantial monetary losses incurred by EuroGas for
damages resulting from a 2004 illegal expropriation by the Slovak
Republic of mining rights to the huge Gemerska Poloma
talc-soapstone ore body previously owned by Rozmin s.r.o., a Slovak
subsidiary of EuroGas.
In addition to the President of the Slovak Republic, the legal
documents were simultaneously served on Dec. 23, 2013 also on the
Prime Minister, the Minister of Finance, the Minister of Economy
and the President of the Main Mining Administration Office of the
Slovak Republic.
The Gemerska Poloma talc-soapstone ore body is located near
Roznava, Slovak Republic and ranks amongst the largest and purest
of its kind in the world. Independent geological experts have
publicly estimated the value of the Gemerska Poloma ore body to be
in the several billion-dollar range.
FORWARD-LOOKING STATEMENTS
Statements contained herein that are not historical facts may be
forward-looking statements within the meaning of the Securities Act
of 1933, as amended. Forward-looking statements include statements
regarding the intent, belief or current expectations of the Company
and its management. Such statements are estimates only, as the
Company has not completed the preparation of its financial
statements for those periods, nor has its auditor completed the
audit of those results. Actual revenue may differ materially from
those anticipated in this press release. Such statements reflect
management's current views, are based on certain assumptions and
involve risks and uncertainties. Actual results, events, or
performance may differ materially from the above forward-looking
statements due to a number of important factors, and will be
dependent upon a variety of factors, including, but not limited to
Tombstone Exploration Corporation's ability to obtain additional
financing. Tombstone Exploration Corporation undertakes no
obligation to publicly update these forward-looking statements to
reflect events or circumstances that occur after the date hereof or
to reflect any change in Tombstone Exploration Corporation's
expectations with regard to these forward-looking statements or the
occurrence of unanticipated events. Factors that may impact
Tombstone Exploration Corporation's success are more fully
disclosed in Tombstone Exploration Corporation's most recent public
filings with the U.S. Securities and Exchange Commission.
CONTACT: Tombstone Exploration Corporation Alan M. Brown,
President 480-305-4507
480-452-0286 (fax)
Email Contact www.tombstonemining.com EuroGas Group
www.eurogas-ag.com Investor Relations: The Eversull Group, Inc.
Jack Eversull, President 972-571-1624
214-469-2361 (fax)
Email Contact
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