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LogiCamms Limited: Notice of Civil Claim Issued Against Kazax Minerals Inc. in Excess of $2 Million

Aug 19 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/19/13 -- On August 16, 2013, LogiCamms Limited filed a Notice of Civil Claim against Kazax Minerals Inc. and Lomonosovskoye LLP (together, "Kazax"). The notice of claim asserts that Kazak has failed to pay debts totalling AUD 2,226,931 (approximately CAN 2,115,000) in breach of the agreement for services in place between LogiCamms and Kazax. Pursuant to the Notice of Civil Claim, LogiCamms is also claiming interest expenses and other costs.

The Notice of Civil Claim was filed by LogiCamms Limited, which has provided engineering services, including work on the feasibility study, in relation to the Kazax iron ore project in Kazakhstan. LogiCamms has halted all work on the project unless and until the amounts owing to LogiCamms are settled by Kazax. The Notice of Civil Claim was lodged after Kazax failed to make the required payments in relation to outstanding and overdue invoices. The current directors of Kazax include: Trevor Campbell Smith (President and CEO), Riad Al Sadik (Chairman), David Savage, Daniel Kunz, Mohamed Chafic, Moshtagh Moshtaghi, Tarek Damerji and Oleg Demidkin.

LogiCamms intends to vigorously pursue this matter and seek orders to enforce the payment by Kazax of the outstanding AUD 2,226,931.



Contacts:
Paul Bowker
Group GM, Corporate Development & Governance
LogiCamms
p.bowker@logicamms.com.au
+61 7 3058 7000





Source: Marketwire


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