Cabin Ridge Holdings Limited and Cabin Ridge Project Limited today announced that they have commenced legal proceedings against the Government of Alberta in the Court of Queen’s Bench of Alberta. As the legal proceedings are a matter of public record and interest, the Cabin Ridge companies wish to provide this short statement.The Cabin Ridge companies have invested significantly to acquire their freehold mineral rights and project assets for the purpose of developing a world-class metallurgical (steelmaking) coal project. The Cabin Ridge companies base their claim on the Government of Alberta’s change of position by which the Government substantially and unreasonably interfered with Cabin Ridge’s development rights and deprived Cabin Ridge of any reasonable use of the valuable mineral rights that it acquired. Consequently, the Government of Alberta’s de facto expropriation of Cabin Ridge’s freehold mineral property has prevented Cabin Ridge from continuing to develop its steelmaking coal project and has deprived the Cabin Ridge companies of their substantial investments in Alberta.
As is outlined in the Statement of Claim, without this interference, the proposed steelmaking coal mine would generate the following:
Approximately 500 direct jobs during operations.
Approximately $2 billion in taxes and other revenue for the provincial and federal governments.
The Cabin Ridge companies will continue to pursue all remedies available to them, including through the Alberta justice system. They respect the Alberta justice system and do not intend to provide further comments as the legal proceedings take their course.