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  • Golden Independence (IGLD) has received and responded to the notice of a lawsuit
  • The civil complaint was filed in a state court in Reno, Nevada on behalf of plaintiffs Brian Nordwall and Independence Gold-Silver Mines
  • The plaintiffs allege that the company failed to alert them of an impending decline in IGLD shares before issuing them as payment for the Independence Project
  • Golden Independence and Mr. Doulis deny the allegations and intend to vigorously defend themselves against the claim
  • Golden Independence Mining is an exploration company focused on projects in Nevada and British Columbia
  • Golden Independence (IGLD) is trading flat at C$0.26 per share

Golden Independence (IGLD) has received and responded to the notice of a lawsuit.

The company received a copy of a civil complaint filed April 19, 2021 in a state court in Reno, Nevada on behalf of plaintiffs Brian Nordwall and Independence Gold-Silver Mines.

Golden Independence and its CEO, Christos Doulis, are named as defendants.

The claim follows the amendment of the option to purchase the Independence Project and the subsequent purchase of the project in January 2021 by Golden Independence’s joint venture partner Americas Gold Exploration.

As part of the purchase consideration, Mr. Nordwall and Independence Gold-Silver Mines each received Golden Independence common shares.

They allege that, due to a subsequent decline in the company’s common shares, the purchase shares were inadequate consideration and that the company and Mr. Doulis failed to inform them of the impending decline.

Golden Independence and Mr. Doulis deny the allegations and intend to vigorously defend themselves against the claim.

Golden Independence Mining is an exploration company focused on the Independence Property in the Battle Mountain-Cortez Trend in Nevada and the Champ precious metal property near Castlegar, British Columbia. 

Golden Independence (IGLD) is trading flat at C$0.26 per share as of 10:52 am ET.

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