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Miner Ursa Major Scores in Court Battle: report

A Toronto judge has labelled a court challenge in a proxy battle at Ursa Major Minerals Inc. (UMJ.TO) "nasty, brutish and short" and has ordered the two companies that launched the battle to cover legal bills totalling $110,000, the Globe and Mail reported.

It said Justice David Brown of the Ontario Superior Court issued a ruling Tuesday ordering Forbes & Manhattan Inc. and Inspiration Mining Corp. (ISM.TO) to pay Ursa Major's $60,000 legal bill and pay a $50,000 bill incurred by large Ursa Major shareholder Wes Hall.

Ursa Major is up 0.5 cents at 15.5 cents. ISM is up 1 cent at 18 cents, taking it away from an existing year low 16 cents.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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