HAITI UPDATE ON 3D RESOURCES LTD TERMINATION ON MAY 18TH 2018
From disastrous hurricane to devastating earthquake, from instability to cholera our people steadfast. Haitians are the most resilient people in earth. The Haitian descents are the “Ambassadors” of Haiti, whether you were born in Haiti or another country, whether you became citizen of another country; your Haitian roots and heritage remains within your soul. You are all the Ambassadors of Haiti and only you can spread the good news and values of Haiti.
Haiti is a country full of wealth and values; from its people, its natural resources to its rich culture, Haiti remain the “Pearl of the Island”. Haiti is the “World First Black Republic”, and we mush cherish the value we represent in this world. It is time for us to show the world that we can developed ourselves using our resources to become a part of the world commodity trading platform. To show the world that our resources can be used to create how Haiti can start to capitalize and be a part of international trading, that Haiti is welcoming investment and create wealth for our generation to come.
But one must be sure, because Haiti being a poor country that will not prevent the honest people of Haiti to stand for justice and protect its interest.
THEREFORE, IN REFERENCE OF THE JUNE 28, 2018;
ANNOUNCEMENT OF 3D RESOURCES DEFAULT TERMINATION -MAY 18, 2018 “THE TERMINATION”
Significant misrepresentations of information to the board of directors and others, Potential foreign bribery, multiple material breaches and violations, misleading statements which are primarily related to the lack of knowledge and experience of the 3D appointed “Manager” who is also a Board of Director of 3D Resources capabilities to operate in Haiti.
RGC and Sono as the U.S Companies maintain a zero-tolerance level for the identified misconducts; and given 3D Resources have already failed to meet its basic Milestones that clearly stated the following:
“ The parties agree that in the event that DDD fails to make any of the payment set out in the agreements that are defined as “Milestones” DDD acknowledge it will no longer have any ownership interest in the companies. For the avoidance of doubt it is acknowledged and agreed that should occur no monies shall be owed to DDD by the Companies”
The Parties terminated the agreement under the defined clauses and in conjunction with significant violations which were described under the termination letter to DDD Issued May 18th 2018. RGC and SONO’s legal counsel are current evaluating the potential damages and losses caused by DDD. Further the companies and members of a Haitian Government Agency had significant concerns when the parties notices the reporting of the financial reports of 3D of their expenditures, where no exploration or any physical work were allowed; further 3D company external auditor “Bentley Chartered Accountants’ resigned subsequently after some Key audit matters under the material uncertainty relation to going concerns refer to note 15 of the “full year statutory accounts” dated August -28-2017 press release on page 50 Reference: https://www.asx.com.au/asxpdf/20170928/pdf/43mqrscb455mp0.pdf. The parties were very concerns as there were no press release were issued of such resignation, but instead the resignation was buried under the press release of Notice of Annual General Meeting date 10-27-2017 paragraph 7.1 ref: https://www.asx.com.au/asxpdf/20171027/pdf/43np12r0cjph3r.pdf . The Companies had significant concerns as no work were allowed to be conducted by the Haitian Government at that time. The companies confronted management of 3D who held financials to be disclosed and ignored the companies request.
On July 6, 2018 the company had issued a supporting supplementary document of the termination agreement issued in May 18, 2018 termination termination of the current damages and estimated damages caused by DDD misrepresentations, violations. Such claim document details out the breaches, the violations and misrepresentation caused by DDD Manager violated everything that RGC Management stand for and against of. Therefore, the current lost amount claims that directly and immediately impacting RGC and SONO is $3,356,957, and the estimated loss causes by DDD actions are estimated to be in the range of $USD 132,113,245.
However, Senior Management in both parties have spoken on possible remediation; a matter to begin such consideration, one of the key aspects is the removal/termination/ban of the manager to serve in Haiti’s project. From such point, possible communication may be considered under define rules of laws. If the parties cannot conclude on the mitigation approach or a mutual release. RGC and Sono will take appropriate action accordingly against 3D Resources and its officers and individually, including pursuing processes on the law violation matters pursuant to the time table issuance of the Claims deadlines.
Resource Générale Corporation