Lydian Announces Disputes with Armenian Government

Lydian International Limited has announced that Lydian UK Corporation Limited and Lydian Canada Ventures Corporation have formally notified the Armenian government regarding the existence of disputes with the Armenian government in connection with the continuous blockade of roads for the Amulsar gold project, under the Investment Promotion and Protection Agreement between the United Kingdom and the Republic of Armenia, as well as the respective agreement with the Canadian government.

This information was provided by the company’s press service.

Under the bilateral agreement with the United Kingdom, Lydian UK has the right to present the dispute in international arbitration three months after the official notice, while Lydian Canada may do so in accordance with the bilateral agreement with Canada after six months. At the same time, the Armenian government has opportunities to discuss existing disputes with Lydian and provide swift resolutions.

Whether Lydian UK or Lydian Canada will proceed to the actual arbitration process will depend on the actions of the Armenian government. Lydian UK and Lydian Canada do not guarantee that they will enter into the actual arbitration or appeal to other international arbitration courts or the possible outcomes thereof. The company will not provide any further comments on this matter, except as legally required.