Kazax Announces Settlement With LogiCamms
30 April 2014 - 2:32AM
Marketwired
Kazax Announces Settlement With LogiCamms
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 29, 2014) -
Kazax Minerals Inc. ("Kazax" or the "Company") (TSX-VENTURE:KZX) is
pleased to announce that it has reached an amicable settlement with
LogiCamms Limited ("LogiCamms") in relation to legal proceedings
arising from some uncertainty as to work scope and payment in
connection with work carried out by LogiCamms for the Company's
Lomonosovskoye Project in Kazakhstan. The legal proceedings will be
withdrawn on the back of the amicable settlement; subject to a
payment of AUD 700,000 (approx. USD 645,000) by Kazax to LogiCamms
in 4 instalments.
On the basis of the amicable nature of the settlement, and the
continuing good relationship between the parties, Kazax's
engagement of LogiCamms will continue with the parties working
together to complete the design and specification of the
Lomonosovskoye Project beneficiation plant and associated
facilities for the purposes of advancing the bankable feasibility
study in relation to the Lomonosovskoye Project.
For further information on Kazax and the Lomonosovskoye Project,
please visit our website at www.kazaxmineralsinc.com.
ON BEHALF OF THE BOARD
Trevor Campbell Smith, President & 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.
Kazax Minerals Inc.+7 7172 99 05
49info@kazaxmineralsinc.comwww.kazaxmineralsinc.com
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