Lydian International Ltd. announced today that the Ministry of Environment of the Republic of Armenia has granted Lydian Armenia a permit to draw water from the Arpa River at a volume of 11l/s. The Company had previously sought permission to draw water from the Arpa River on two prior occasions with higher level flow rates to support long term operations, both of which were denied by the MOE. On December 23, 2019, the [...]
Lydian International Ltd. announced today that the Company’s and its direct and indirect wholly owned subsidiaries’, Lydian Canada Ventures Corporation and Lydian U.K. Corporation Limited , previously announced protection under the Companies’ Creditors Arrangement Act has been extended until March 2, 2020. While under CCAA protection, creditors and others are stayed from enforcing any rights against the [...]
Lydian International Ltd. announced that it has received notice that the Toronto Stock Exchange has determined to delist the Company’s ordinary shares effective at the close of market on February 5, 2020. The Company does not intend to appeal the decision or seek an alternative listing. The Company’s ordinary shares remain suspended from trading pending the delisting. As previously announced, the Company and [...]
Lydian International Ltd. announced today that the Company’s and its direct and indirect wholly owned subsidiaries’, Lydian Canada Ventures Corporation and Lydian U.K. Corporation Limited , previously announced protection under the Companies’ Creditors Arrangement Act has been extended until January 23, 2020. While under CCAA protection, creditors and others are stayed from enforcing any rights against [...]
Lydian International Ltd. announced today that the Toronto Stock Exchange has suspended trading of the Company’s ordinary shares and is now reviewing the eligibility of the Company’s ordinary shares for listing on the TSX as a result of the Company being granted protection under the Companies’ Creditors Arrangement Act. The delisting hearing is expected to occur in early January 2020. For further [...]
Lydian International Ltd. announced today that the Company and its direct and indirect wholly owned subsidiaries, Lydian Canada Ventures Corporation and Lydian U.K. Corporation Limited , were granted protection under the Companies’ Creditors Arrangement Act pursuant to an order of the Ontario Superior Court of Justice . A stay was also granted in favour of Lydian Armenia CJSC, Lydian International Holdings Limited [...]
Lydian International Ltd. commented on a decision by Armenia’s Administrative Court to reject an Application calling for the Minister of Environment to revoke the Environmental Impact Assessment of the Amulsar Project approved in April 2016. The reasoning of the Court is important in the context of ongoing unlawful activities against the Amulsar Project. A small number of private citizens alleged that ‘new [...]
Lydian International Ltd. announced today its results for the three and nine months ended September 30, 2019. All dollar amounts referenced in this news release are, unless otherwise indicated, in United States dollars. Third Quarter 2019 and recent developments include: Illegal Blockades – The blockades continue at the Amulsar Project site, having been in place since June 22, 2018. As a result, on March 11, 2019 [...]
Lydian International Ltd. commented on a decision by Armenia’s Ministry of Environment to reject the Company’s application to draw water from the Darb River. On July 4, 2019 the Company applied to the Ministry of Environment to water use from the Darb River at a volume of 43․5 l/s. On September 9, 2019 the Ministry suspended and commented on the application, including one comment on the need to revisit the [...]
ADMINISTRATIVE COURT FINDS PRIOR ANTI-ARMENIA’S Oct. 17, 2019 -- Lydian International Ltd. is pleased to announce that the Administrative Court of Armenia ruled on October 15th in favor of Lydian Armenia, a subsidiary of Lydian, and upheld the Company’s appeal against a Directive of Armenia’s Environmental and Mining Inspection Body , dated August 27, 2018 preventing any mining related activities at the [...]
Lydian International Ltd. announced that the Company has entered into a fourth amended and restated forbearance agreement with its senior lenders, stream financing providers and equipment financiers pursuant to which they have agreed to: continue to temporarily suspend all principal and interest payments due and payable; and continue to forbear from declaring or acting upon, or exercising default-related rights or [...]
Lydian International Ltd. announced that the Company has entered into a third amended and restated forbearance agreement with its senior lenders, stream financing providers and equipment financiers pursuant to which they have agreed to: continue to temporarily suspend all principal and interest payments due and payable; and continue to forbear from declaring or acting upon, or exercising default-related rights or remedies [...]
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