DG - Dixie Gold Inc. Executes Settlement Agreement with Omnia Metals Group Ltd
(TheNewswire)
Vancouver, British Columbia – April2, 2024 – Dixie Gold Inc. (TSX VENTURE:DG)(“ Dixie Gold ” or the “ Corporation” ) reports that it has todayentered into and executed a settlement agreement dated April 2, 2024(the “ SettlementAgreement ”) with Omnia Metals Group Ltd(“ Omnia ”) as relates to its prior commencement of legalproceedings (the “ Litigation ”) as plaintiff against Omnia (seenews release, Dixie Gold Inc. Initiates Lawsuit Against Omnia MetalsGroup Ltd., Provides Related Notice to Market Regarding TakeoverTransaction, dated March 4, 2024).
Pursuant to the Settlement Agreement, the parties haveresolved their differences without admission of liability and providedcustomary and encompassing mutual releases.
Under the Settlement Agreement, the Corporationreceived a cash payment, which is expected to exceed its legalexpenses related to the Litigation and thereafter modestly attributeto the Corporation’s working capital. Importantly and morematerially, the Corporation also received confirmation of clearentitlement to funds previously paid by Omnia to the Corporation.
The Corporation did not make any payments to Omniaunder the Settlement Agreement nor otherwise.
Beyond the above, the Corporation views the Litigationas having facilitated important material disclosures related tomatters then between the Corporation and Omnia. With that served, theCorporation views the Settlement Agreement as now eliminating thepotential for assertions around specific performance should theCorporation otherwise transact on one or more of its assets in thefuture.
In furtherance of the Settlement Agreement, the partiesinvolved shall execute customary documentation to conclude courtmatters that rest under Court File No. VLC-S-S-241442.
The Corporation does not plan further dealings withOmnia, views the Litigation as resolved with a positive outcome anddoes not intend to make further public statements on the settledmatter.
About Dixie GoldInc.
Dixie Gold Inc. (TSXV: DG) is a publicly tradedexploration company holding a portfolio of exploration projects inCanada.
For more information, please visit www.dixiegold.ca
Signed,
Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
Forward-Looking Statements
This press release contains forward-looking statementswithin the meaning of Canadian securities laws. Some of theforward-looking statements can be identified by the use offorward-looking words. Statements that are not historical in nature,including the words "anticipate," "expect,""suggest," "plan," "believe,""intend,", “intention” "estimate,""target," "project," "should,""could," "would," "may,""will," "forecast" and other similar expressionsare intended to identify forward-looking statements. Theseforward-looking statements generally include statements that arepredictive in nature and depend upon or refer to future events orconditions, including, but not limited to statements related to theCorporation’s business in general and/or matters related to furthereffectuating the Settlement Agreement and resolving matters of courtrelated to the Litigation.
Without limitation, these statements are"forward-looking" because they are based on our currentexpectations about the markets we operate in and on various estimatesand assumptions. Actual events or results may differ materially fromthose anticipated in these forward-looking statements if known orunknown risks affect our business and transactions, or if ourestimates or assumptions turn out to be inaccurate.
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease.
Contact Info:
Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
T: 604.687.2038
E. info@dixiegold.ca
W. www.dixiegold.ca
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