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Mineworx Pleased with Court Decision

Written by Customer Service on . Posted in Public Companies.

EDMONTON, Alberta., Feb. 08, 2022 (GLOBE NEWSWIRE) — Mineworx Technologies Ltd. (the “Company” or “Mineworx“) (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) is pleased to announce the recent decision of the Supreme Court of British Columbia (the “Court”) in the ongoing legal proceedings between Mineworx and EnviroMetal Technologies Inc. (“EnviroMetal”).

The Court declined to grant the broad-ranging injunctive relief which had been sought by EnviroMetal and instead granted limited relief that only restricts the Company’s ability to disclose specific information to third parties.

EnviroMetal sought to have Mineworx restrained from any use of information which EnviroMetal claimed was confidential and proprietary in its operations. Mineworx defended the injunction application on numerous grounds, and the Court refused to grant such broad relief to EnviroMetal. The limited relief granted by the Court, which is not permanent, is consistent with an alternative proposal which was put forward by Mineworx and its legal counsel.

Mineworx disputes the EnviroMetal alleged claim of confidential information in the court action and has counterclaimed for relief against EnviroMetal. In coming to its decision, the Court recognized that Mineworx had viable arguments that needed to be resolved at trial.

Mineworx was the sole party to tender expert evidence in relation to the nature of the alleged confidential and proprietary information and the Company anticipates providing further expert evidence in support of its positions at trial.

Mineworx assessment is that the interlocutory decision will have no impact on its work involving the pilot plant currently located in Tennessee and as the Company continues to move forward with the development of its catalytic converter business.

Greg Pendura, Mineworx President and CEO stated “Mineworx is pleased with the ruling as the judge rejected various relief requests that EnviroMetal had been seeking and we believe that this bodes well for Mineworx as the lawsuit proceeds.”

About Mineworx

Mineworx is positioned for growth in the catalytic converter sector through the development and commercialization of its environmentally friendly processing technologies for the recovery of precious metals. Initial focus is the extraction of platinum and palladium from diesel catalytic converters with its partner Davis Recycling Inc. For further information go to www.mineworx.net  

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.

For further information contact:

MINEWORX TECHNOLOGIES LTD.
Greg Pendura
President & CEO
780 800-0726
greg@mineworx.net

For Media interview requests, please contact:

Nelson Hudes
Hudes Communications International
(905) 660-9155
Nelson@hudescommunications.com

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