Rye Patch's Coeur lawsuit to wrap up Dec. 20
Ticker Symbol: C:RPM
Rye Patch's Coeur lawsuit to wrap up Dec. 20
Rye Patch Gold Corp (C:RPM)
Shares Issued 125,676,945
Last Close 12/15/2011 $0.68
Friday December 16 2011 - News Release
Mr. William Howald reports
RYE PATCH UPDATES COURT PROCEEDINGS
Rye Patch Gold Corp. is providing the following update on the Nevada District Court proceedings arising out of the lawsuit filed by its wholly owned subsidiary Rye Patch Gold US Inc. against Coeur Rochester Inc., a wholly owned subsidiary of Coeur d'Alene Mines Corp., announced by news release dated December 6, 2011.
Court proceedings began on Thursday, December 15, 2011, on the motion of Rye Patch Gold US to dissolve the temporary restraining order entered on December 5, 2011, to restrain it from working on the LH unpatented mining claims which it staked in October and November. The hearing also considered Rye Patch Gold US's motion for preliminary injunctive relief against Coeur Rochester to restrain Coeur from working on the LH claims and the corresponding motion of Coeur to extend the effect of the temporary restraining order. The temporary restraining order will expire on Dec. 20, 2011, unless extended by the court. The restraining order was obtained by Coeur Rochester without affording Rye Patch Gold US an opportunity to oppose its application.
The court hearing reconvened this morning and continued until 12:30 p.m. without resolution. The proceedings are scheduled to continue on Tuesday, December 20, 2011, at which time final arguments will be presented and the court will rule on the motions.
Rye Patch will provide a further update following continuation of the hearing on December 20, 2011.
We seek Safe Harbor.
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