Capital Mining LimitedASX: CMY, CMYO
Level 11, 216 St Georges Tce
Perth WA 6000
Telephone +61 8 9481 0389
Fax +61 8 9463 6103
www.capitalmining.com.au
Directors
Mr Peter Torney Mr Peter Dykes
Mr Anthony Dunlop
Company Secretary
Mrs Elizabeth Hunt
ASX Release
20 September 2016
COMMENCEMENT OF ACTION AGAINST BROKEN COAST CANNABIS LIMITED
Capital Mining Limited (ASX: CMY) ('Capital' or 'the Company') advises that it has commenced an action in the District Court of Western Australia against Broken Coast Cannabis Limited ('BCC').
Under the terms of the written agreement between Capital and BCC, announced on 9 March 2015, Capital loaned C$500,000 to BCC to be used by BCC for operating costs, and capital expenditure in the ordinary course of BCC's business. Capital announced the termination of the agreement with BCC on 20 July 2015, and demanded repayment of the loan. BCC has failed to repay any part of the loan.
Capital's claim against BCC is for (amongst other things) the repayment of the loan.
ENDS
Peter Dykes Director