- Vox Royalty Corp's (NASDAQ: VOXR) subsidiary, Vox Australia, faces a legal challenge over the acquisition of the Red Hill royalty.
- The lawsuit, filed in the Supreme Court of Western Australia, alleges a breach of a right of first refusal.
- Vox contends the claim is unfounded and intends to robustly defend its position in court.
Vox Royalty Corp (NASDAQ: VOXR) reports that its fully-owned subsidiary, Vox Royalty Australia Pty Ltd ("Vox Australia"), has been handed a Writ of Summons and Statement of Claim in the Supreme Court of Western Australia. The lawsuit arises from Vox Australia's September 2023 acquisition of the Red Hill royalty, which was part of a wider A$6.75 million purchase of nine royalties.
The plaintiff argues that they had a right of first refusal on the Red Hill royalty and claims that Vox Australia's acquisition breached these rights. As a result, the plaintiff seeks either a declaratory ruling on the assignment's validity or alternatively damages.
Vox maintains that the alleged right of first refusal was not applicable in this transaction. The company has expressed its intent to take all necessary legal steps to contest the claim. Vox Royalty is committed to protecting its interests and ensuring that the legal process does not impact its operational commitments.
