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ruby creek resources inc (RBYC) Snapshot

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01/31/14 - $0.04
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ruby creek resources inc (RBYC) Details

Ruby Creek Resources, Inc., an exploration stage company, engages in the acquisition, exploration, and mining of mineral properties. The company primarily explores for gold deposits. Its principal properties include the Mkuvia, Gold Standard, Kapinga, and Keigi in Tanzania. The company was founded in 2006 and is based in New York, New York.

102 Employees
Last Reported Date: 12/14/11
Founded in 2006

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ruby creek resources inc (RBYC) Key Developments

Handeni Gold Inc. Provides Update on Litigation Between Handeni and Ruby Creek Resources Inc

Handeni Gold Inc. is providing an update with regards to the litigation between Handeni and Ruby Creek Resources Inc. As set out in a joint news release by the company and Ruby Creek on February 14, 2013 the two respective chairman have met in April 2013 to discuss a potential settlement of the current litigation between the companies. During this meeting an undertaking was provided by Ruby Creek to propose a settlement agreement within one week following this meeting. Despite Handeni repeatedly requesting Ruby Creek to provide said settlement proposal none has been forthcoming to date. Handeni is left with no other choice but to proceed with the next steps in the litigation process to prevent further damage to Handeni as a result of the actions of Ruby Creek.

Joint Statement by Ruby Creek Resources, Inc. and Handeni Gold Inc. on Current Litigation Between the Parties

Handeni Gold Inc. and Ruby Creek Resources, Inc., issue this Joint Statement regarding current litigation between the Companies. As disclosed in earlier Ruby Creek news releases of March 1, 2012 and February 8, 2013, Ruby Creek initiated legal action against Handeni Gold Inc., on February 7, 2012, in the State of New York addressing Handeni's alleged undisclosed and fraudulent re-sale of all or part of the Mkuvia properties with those alleged sales occurring between March 2010 and October 2010. As disclosed in an earlier Handeni news release of March 7, 2012, Handeni filed a separate legal action in the Province of British Columbia against Ruby Creek on February 23, 2012, seeking relief for Ruby Creek's alleged breach of its payment obligations under these agreements and seeking an order amongst the terms that Ruby Creek make those payments and immediately remove the U.S. restrictive legend from Ruby Creek shares issued to Handeni Gold under certain purchase agreements. In addition to the New York Action and the British Columbia Action, on May 21, 2012 in answering Ruby Creek's claim in New York, Handeni counter claimed against Ruby Creek on the basis of the alleged breaches set out in the British Columbia Action. Ruby Creek opposed the British Columbia Action on the grounds that the Court in British Columbia did not have jurisdiction and that a prior action, the New York Action, had been started earlier. On November 19, 2012, the Court ordered that the British Columbia Action be dismissed on the grounds that the Court in British Columbia did not have jurisdiction and further that the dismissal was without prejudice to either company's action in New York against one another. The Order was granted by Consent of both companies. The chairman of Ruby Creek and Handeni have agreed to meet in Dar Es Salaam, Tanzania in the near future in an attempt to resolve these disputes in the best interests of the shareholders of each of the companies. While no certainty can be provided that these discussions will result in a settlement, further updates will be provided in due course.

Ruby Creek Resources, Inc. Announces Management Changes

Effective January 28, 2013, Ruby Creek Resources, Inc. accepted the resignation of David Bukzin from the position of Director. Effective January 28, 2013, the company has accepted the resignation of Darren Ofsink from the position of Director. Effective January 28, 2013, the company announced the appointment of Jurg Buhler to the position of Director. He has more than twenty years experience in trading and investing in the financial markets. He has been actively involved in the alternative investments arena since 1992. In 2008 he founded Global Vision Investments AG in Zug, Switzerland. The company has accepted the resignation of Daniel Bartley from the positions of President and Chief Executive Officer. Effective January 28, 2013, the company announced the reappointment of Robert Slavik to the positions of President and Chief Executive Officer. Mr. Slavik served as a Director, President and Chief Executive Officer of the company from June 18, 2009 to January 31, 2012 when Mr. Slavik resigned as President and Chief Executive Officer. He has held management positions in public and private corporations through more than 30 years working in North America, Africa and China. Currently he is also President, CEO and Director of Tanzanian Goldfields Company, and President and Director of Pacific Gems Trading Company. His responsibilities have ranged from evaluations and turnarounds to operations.


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