Altai’s Claim to the Quebec Government
12 March 2022 - 1:35AM
Altai Resources Inc. (ATI, TSX VENTURE; US SEC Rule
12g3-2(b) File # 82-2950) (the “Company” or “Altai”)
announces that, through its attorneys, a claim against the Quebec
Government has been filed in the Superior Court of Quebec, Canada.
Through this legal proceeding, Altai is
enforcing its rights and seeking compensation from the Minister of
Energy and Natural Resources of Quebec and the Quebec Government
(collectively the “Parties”) for the illegal expropriation of its
Quebec oil and gas licences by the Parties with the entry into
force of the Petroleum Resources Act and its Regulations on
September 20, 2018, and the subsequent unlawful application of same
by the Parties. The Parties intend to extend and complete this
illegal expropriation by their recent statements regarding the end
of oil and gas resource development in Quebec.
The Company has been working in the oil and gas
industry in Quebec, Canada for more than 30 years, has entered into
many different licence agreements with the Parties, and has
incurred vast expenditures in the exploration and development of
its oil and gas licences at the encouragement of the Parties and
with their assurances that the rights of explorers to explore and
exploit their discoveries would be respected. To date Altai has
always been in full compliance with all applicable legislative and
regulatory requirements governing the exploration and development
of its Quebec oil and gas licences.
ABOUT ALTAIAltai Resources Inc.
is a resource company with a producing oil property in Alberta and
exploration gold and gas properties in Quebec, Canada.
For further information, please
contactMaria Au, Secretary-Treasurer
Tel: (416) 383-1328 Fax: (416) 383-1686Email:
info@altairesources.com Internet: http://www.altairesources.com
Neither 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.
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