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Eco Oro takes shareholder dispute to Canadian court

Eco Oro Minerals Corp. has filed a lawsuit against shareholders Harrington Global Opportunities Fund Ltd., Courtenay Wolfe and Danny Guy in the Supreme Court of British Columbia.

The Vancouver-based precious metals explorer claims in an April 5 statement that the group of shareholders published "false, misleading and defamatory" statements about Eco Oro and its board of directors.

The group of shareholders, led by Wolfe and Harrington Global Opportunities Fund, are calling for the removal of the current directors at an annual general meeting scheduled for April 25.

Eco Oro believes the statements may have "potentially inappropriately jeopardized the company's perception among shareholders and the public and therefore negatively impacted the company's ability to maximize value for shareholders."

The company wants the court to restrain the shareholders from further publishing or republishing the false, misleading and defamatory statements, and is also seeking financial compensation for damages.

In late February, Eco Oro filed a complaint with the British Columbia Securities Commission regarding the "material misrepresentation" made by the shareholder group.

Eco Oro said it is confident it will be successful in its lawsuit.