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2014-02-16 at 19:22

Osisko, Goldcorp headed to court while Hammond Reef project moves forward

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By tbnewswatch.com

A scheduled Osisko shareholders' vote over a hostile takover bid by Goldcorp has been postponed.

Osisko has filed a lawsuit against Goldcorp, alleging the company trying to complete the $2.6 billion takeover acted in bad faith by violating a confidentiality agreement.

Meanwhile, Osisko continues to pursue their Hammond Reef gold project, which is located near Atikokan. The company has been holding public open houses and consultations with First Nations groups in regards to the project's Environmental Assessment.

Atikokan mayor Dennis Brown is optimistic the community will benefit from the project, no matter what result is reached in the legal process between the two companies.

A Quebec Superior Court judge will hear arguments regarding the lawsuit on March 3.

(Thunder Bay Television)


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