Genco Resources Ltd.
TSX : GGC
January 06, 2009 09:30 ET
Genco Announces Second Lawsuit Over Andover Default on Chief Share Purchase
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2009) - Genco Resources Ltd. (TSX:GGC) has commenced legal action in the U.S. District Court of Arizona against Andover Ventures Inc., Gordon Blankstein, Robert Blankstein and Paul Eagland (the "Defendants"). The U.S. Court action is in addition to a lawsuit filed in the Supreme Court of British Columbia against Andover Ventures Inc. ("Andover") for alleged breaches of agreements respecting Andover's purchase from Genco of shares, representing a controlling interest in Chief Consolidated Mining Company ("Chief"). Chief owns the formerly producing Burgin and Trixie Silver Mines near Eureka, Utah.
Genco alleges that it has suffered damages as a result of the Defendants' conduct in their dealings with Genco, Andover and Chief.
Details may be viewed on: http://www.azd.uscourts.gov/azd/courtinfo.nsf/court/pacer?OpenDocument under Case # 2:2008cv02279 and Case # 4:2008cv00655. Genco has retained the legal services of Henson & Efron, P.A. to pursue the U.S. litigation.
About Genco Resources Ltd.
Genco's core asset is the producing La Guitarra silver-gold mine, located in the Temascaltepec Mining District of Mexico. La Guitarra Mine currently consists of two underground operation centres - La Guitarra and San Raphael - and a flotation mill with a proven capacity of 320 tonnes per day. Genco believes significant potential exists to expand production within the 39,714 hectares of mining concessions it currently owns or leases in the Temascaltepec Mining District.
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