Winshear Announces That the Video Recording of the Arbitration Hearing Against the Government of Tanzania is Now Online
April 04 2023 - 8:00AM
Winshear Gold Corp. (
TSXV: WINS)
(‘Winshear’, the ‘Company’, or the ‘Claimant’) reports that the
complete video recording of the evidentiary hearing in its
arbitration against the United Republic of Tanzania (‘Tanzania’) is
now available online.
Here -
https://www.youtube.com/@internationalcentreforsett919/videos?app=desktop
The hearing was held between Monday, February 13
and Thursday, February 16, 2023 at the Washington offices of the
International Centre for Settlement of Investment Disputes
(‘ICSID’), an organisation of the World Bank Group.
Winshear is represented by the international law
firms LALIVE and Boies Schiller Flexner in the arbitration process.
Both firms specialise in international arbitration with the
Claimant seeking compensation of in excess of CDN$130M for the loss
of its investment in Tanzania (including interest which continues
to accrue). In addition, the Claimant seeks reimbursement of its
arbitration costs and fees by Tanzania.
A litigation funding facility for US$3.3M is in
place with Delta Capital Partners Management (“DELTA”), a firm
headquartered in Chicago, Illinois that specializes in litigation
funding. This funding facility covers all legal costs associated
with arbitration and is only repayable in the event of a successful
award recovered from the United Republic of Tanzania.
About Winshear Gold Corp.
Winshear Gold Corp. is a Canadian-based minerals
exploration company advancing the Gaban Gold Project in the Puno
region of Peru. Gaban is a possible hard-rock source for the
modern-day alluvial gold rush underway in the Madre de Dios basin
downstream.
The Company is in the process of concluding
fully funded arbitration proceedings against the Tanzanian
Government to recover its investment and damages for the
expropriation of its SMP Gold Project in Tanzania.
For more information, please contact Irene
Dorsman at +1 (604) 200 7874 or visit
www.winshear.com
ON BEHALF OF THE BOARD OF
DIRECTORS
“Richard D. Williams”Richard Williams, CEO
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautions Regarding Forward-Looking
Statements
This news release includes certain statements
and information that may contain forward-looking information within
the meaning of applicable Canadian securities laws. All statements
in this news release, other than statements of historical facts,
are forward-looking statements and contain forward-looking
information.
Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"intends" or "anticipates", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "should", "would" or "occur". Forward-looking statements
are based on the opinions and estimates of management as of the
date such statements are made and they are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or
implied by such forward-looking statements or forward-looking
information, including the risks normally associated with
arbitration cases. Although management of the Company has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements and forward-looking information. The Company does not
undertake to update any forward-looking statements or
forward-looking information that are incorporated by reference
herein, except in accordance with applicable securities laws.
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