Armenian Authorities Reject Criminal Complaint Against Caldera ; Decision Rebukes False and Misleading Claims by Global Gold Corporation
(via Thenewswire.ca)
Montreal, Canada and Yerevan, Armenia Tuesday September 6, 2011 - The Police of the Republic of Armenia have rejected a criminal complaint filed against Caldera Resources Inc. ("Caldera" or the "Company") on September 14, 2010 by senior executives of Global Gold Corporation ("GBGD"). The decision from the General Investigation Department rejects the false and misleading claims of GBGD and found no evidence of a crime by Caldera's representatives. As a result, the criminal investigation against Caldera has been terminated.
"We are pleased that Armenia's Police Department confirmed what we already knew, that no crime was committed by any representative of Caldera, " said Bill Mavridis, President of Caldera and Marjan-Caldera Mining LLC. "The decision is a rebuke to GBGD's Chairman, CEO, Director and Legal Counsel, Mr. Van Krikorian, and his Country Manager, Mr. Ashot Boghossian, who have made false and misleading statements to Armenia's Prosecutor's Office, Police and the U.S. Government to intimidate and extort the project away from Caldera. It is my hope that in light of this development the Board of Directors of GBGD will take appropriate action to deal with the reckless actions of their CEO and their fellow director."
Mr. Krikorian and his agent's in Armenia appear to be justifying their actions by claiming that the JVA was a "preliminary arrangement". The formulation of their complaint contradicts the clear terms of the joint venture agreement, signed between the parties on March 24, 2010, further approved by the TSX-Venture exchange on June 17, 2010 and finally approved by resolutions signed by GBGD and Caldera on June 18, 2010 stating that 100% of the shares of Marjan Mining Company are transferred to the JV.
The rejected complaint also includes a false accusation that Caldera's representatives used "fake" documents to register the transfer of the shares of Marjan Mining Company, the Armenian subsidiary holding the license to the Marjan Gold and Silver Project. Based on these alleged actions GBGD falsely claimed that 100% of their shares of Marjan Mining Company were stolen and transferred to Marjan-Caldera Mining LLC, the joint venture company.
A copy of the original Armenian language decision as well as an English translation can be found on Caldera's website at www.calderaresources.com/category/the-dispute. Also on the website, you will find a new corporate video featuring Mr. Bill Mavridis and Mr. Azat Vartanian, discussing the current arbitration.