Rusoro Mining (RML-V, RMLFF-O) has dropped its hostile takeover offer for Gold Reserve (GRZ-T, GRZ-X), after the Ontario Superior Court of Justice issued an interlocutory injunction on Feb. 10 stopping it from moving forward with the bid. The injunction was granted to Gold Reserve until a pending action started by the company - alleging that Rusoro had improper access to confidential information when it launched its bid - could be heard by the court. That action consists of a statement of claim against Rusoro and Endeavour Financial International, a company incorporated in Grand Cayman, which is affiliated with Vancouver-based Endeavour Financial (EDV-T). Filed on Dec. 16, the action sought damages and an injunction against Rusoro's hostile bid.
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