Trading Symbol: TSX-V: IG
CALGARY, Jan. 16, 2013 /CNW/ - Infinito Gold Ltd. ("Infinito Gold" or
the "Company") announces that the International Centre for the
Settlement of Investment Disputes ("ICSID") has released on January 16,
2013 the decision of the Arbitral Tribunal considering the case brought
against the Bolivarian Republic of Venezuela ("Venezuela") regarding
the Las Cristinas gold project in Venezuela.
The Arbitral Tribunal decided that it had jurisdiction to determine the
dispute, however, it also ruled that Venezuela did not violate the
terms of the Canada-Venezuela Bilateral Investment Treaty and dismissed
all of the claims brought against Venezuela including recovery of costs
and lost profits relating to Infinito Gold's investment in Las
The Tribunal also decided that Venezuela and Infinito Gold should bear
their own costs in addition to one half each of the costs of ICSID and
the Arbitral Tribunal, which have been paid by the two parties in that
This concludes the arbitration process that was initiated in July of
Caution Regarding Forward-Looking Information and Statements
Certain statements in this press release may address future events and
conditions and, as such, involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
These statements are made as of the date of this release but Company
undertakes no obligation to update these forward-looking information or
statements if circumstances or management's estimates or opinions
should change. The reader is cautioned not to place undue reliance on
forward-looking information or statements.
INFINITO GOLD LTD.
"The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release."
SOURCE: Infinito Gold Ltd.
For further information:
INFINITO GOLD LTD.
President and CEO
Tel: (403) 444-5191