Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Wi-LAN Inc., a Quarterhill Inc. (QTRH-T; QTRH-Q) company, announced that it has settled its Canadian patent litigation with Rogers (Federal Case: T-304-16), Telus (Federal Case: T-301-16) and Bell (Federal Case: T-303-16). “The terms of the settlement, including any consideration agreed upon, are confidential,” the company stated.
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Turquoise Hill Resources (TRQ-T) issued a releasing noting administrative court proceedings in Mongolia regarding a lawsuit initiated by the Darkhan Mongol Nogoon Negdel Non-Governmental Organization (NGO) relating to the Government of Mongolia’s process in finalizing the Oyu Tolgoi Underground Mine Development and Financing Plan (UDP).
"Early reports suggest the administrative court of first instance has upheld claims by the NGO that due process was not followed by the Government of Mongolia in finalizing the UDP, although the court's formal written ruling is expected to be released only in the coming weeks," the company stated.
The company said it “strongly refutes any suggestion that the UDP or any of the foundational OT Agreements are illegal.”
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Belo Sun Mining Corp. (BSX-T) says the construction licence for its Volta Grande Project in Brazil will remain suspended until certain conditions are fulfilled, based on a decision from the Court of Altamira.
The company said the conditions to be fulfilled include periodically updating the Secretariat of Environment and Sustainability of the State of Para on the status of the relocation of certain families living in the area directly affected by project; and updating the same organization on negotiations with the National Institute of Colonization and Agrarian Reform involving the overlap of a portion of its urban development project area within the project.
In a separate verbal ruling on Monday, with the official written decision is still to be released, the company said the State Court of Appeal of Para in Belem ruled to uphold the company’s licence and authorize the start of construction under the condition that Belo Sun complies with the relocation of certain families living near the project in accordance with the relocation plan.
Belo Sun chief executive Peter Tagliamonte said the company is “pleased with the rulings and the clarity provided by the courts.”