DISTRIBUTIONS TO CLAIMANTS ANTICIPATED TO PROCEED IN SEPTEMBER 2021
Notice to all persons and entities, excluding certain persons associated with the Defendants, who acquired securities of Colt Resources, Inc. on any stock exchange, over-the-counter, or from Colt directly, during the period from March 15, 2015 to and including January 30, 2017, and held some or all of those securities at the close of trading on any of July 13, 2016, November 29, 2016, December 20, 2016, or January 30, 2017.
On April 6, 2021, the Ontario Superior Court of Justice approved the settlement in this class action. The settlement provides for the payment of CAD $950,000 in consideration of the full and final settlement of all claims against the Defendants, including class counsel’s fees, applicable taxes and expenses, and interest, a full release and a dismissal of the Action. The Court also set a Claims Bar Deadline of July 7, 2021, which is now expired. As such, further claims cannot be accepted in this class action.
The Court-appointed Referee is in the process of adjudicating any disputes raised by claimants during the claims process.
It is anticipated that distributions to authorized claimants will be made in September 2021.
Questions for the Class Members’ lawyers may be directed to:
Morganti & Co. PLC