Melbourne, November 11, 2024 - The Board of Besra Gold Inc. (ASX: BEZ) (Besra or the Company) refers to recent reports regarding a petition for the winding-up by the High Court of Malaysia of Quantum Metal Sdn Bhd (incorporated in Malaysia) (QM Malaysia) that was presented by the Government of Malaysia (Petition).
Quantum Metal Recovery Inc (being Besra's largest CDI holder and the contracting party for the Company's Gold Purchase Agreement) has advised Besra that QM Malaysia is a wholly owned subsidiary of Quantum Metal Exchange Inc (incorporated in the USA) and that the Petition exclusively involves QM Malaysia and does not affect in any way Quantum Metal Recovery Inc and Besra.
The Petition for the winding-up was issued due to a delay in tax payment to the Government of Malaysia. QM Malaysia advises that on 8 November 2024, it submitted an installment proposal to the Government's Inland Revenue Department for their approval. As advised by Mr Dato Lim, once approved it is expected that the Inland Revenue Department will withdraw the Petition.
This announcement was authorised for release by the Board of Besra Gold Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229487
