Tickers: XCNQ:MY
Tags: #Mining
Vancouver, B.C. - TheNewswire - June 20, 2019 - Montego Resources Inc. (CSE: MY; FRA: 4MO1) (the "Company" or "Montego") and certain of its directors dispute the content of Anthony Jackson's June 20, 2019 release, which incorrectly states that Mr. Cegielski brought an application seeking the release of Montego funds to the directors' control. Mr. Cegielski has never made any such application. Instead, Montego Resources commenced proceedings seeking an Order from the BC Supreme Court requiring Anthony Jackson to return control of Montego's bank accounts to Montego, because he had been terminated as Montego's CFO and his signing authority was removed. That Civil Claim is still before the courts.
In the interim, Mr. Cegielski, Mr. Greig and Mr. Malhotra, all Montego directors, have notified Mr. Jackson that they do not intend to stand for re-election to Montego's board, and have consented to Mr. Jackson seeing to the administration of Montego's July 23, 2019 meeting. None of these directors have abandoned their status as directors of Montego, despite Mr. Jackson's efforts to deny that status.
Mr. Cegielski's personal suit against Montego for his advance of legal fees relates to his having to retain legal counsel to respond to a petition commenced by Mr. Jackson naming Montego as a respondent seeking relief in respect of Montego's AGM, and the subsequent investigation he performed into Mr. Jackson's conduct as CFO of Montego prior to his termination on March 1, 2019, in circumstances where Mr. Jackson personally controls Montego's accounts and has to date refused to reimburse Mr. Cegielski for having to advance legal fees on behalf of the Company. That investigation continues.
About Montego Resources Inc.
Montego's flagship property is the Taylor silver project located 16 miles southeast of Ely, Nev. The Taylor project is an advanced-stage silver-gold target located southeast of Ely, Nev., with access from a maintained mine road. Mineralization there is a Carlin-style, bulk silver-gold epithermal, high-silica, low-sulphide replacement deposit in flat-lying Devonian-age silty carbonate rocks. The land package comprises 131 unpatented lode claims, five unpatented mill site claims and four patented claims, all covering approximately 2,166 acres.
ON BEHALF OF THE BOARD OF MONTEGO RESOURCES INC.
"Adam Cegielski"
Chief Executive Officer
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
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