SRL - Scully Royalty issue corporate update shares up 35%

As previously disclosed, Scully Royalty ([[SRL]] +35.0%) was named as defendants in a legal action related to an alleged guaranteed of the former parent of the Group in the amount of €43M.As part of this litigation, the plaintiff was granted an initially ex parte (without any notice) freeze order, which, restricts Scully Royalty from selling or disposing of certain shares in subsidiaries and other assets. The Company has appealed this decision and currently expects to be heard in 2H of 2021.According to the company, this freeze order has no implications on its ongoing businesses and does not currently expect any material impact on financial results. Resolution to the litigation is not expected in the short-term.Scully Mine has earned C$10.8M in gross royalty income in the first six months of 2020, compared to C$5.5M and C$1.7M for the full-year in 2019 and 2018, respectively.Also read - Scully Royalty: Worldwide Asset Freeze In Anticipation Of Claims

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Scully Royalty issue corporate update, shares up 35%