Manic awaits court decision

A lawsuit filed by a Cree band against Mineraux Manic has yet to be resolved.

Some of the company’s assets were seized last year as a result of the litigation. Manic’s shares ceased trading on the Montreal Exchange because the company was unable to comply with regulatory requirements, including the filing of a 1992 annual report.

Manic has asked the courts to appoint a sequestrator to ensure its assets remain intact, pending a decision from the court. No such appointment has yet been made.

Manic and its lawyers consider the lawsuit to be without merit and will continue to press for a resolution. Meanwhile, the company will try to keep its shareholders abreast of developments.