Sexual assault charges against Mustafa Ururyar will be dropped in a Toronto courtroom on Wednesday, CBC Toronto has learned.

Ururuyar is expected to appear in a Toronto courtroom on Wednesday in the high profile case and sign a peace bond agreeing to have no contact with Mandi Gray for 12 months. Ururyar and Gray were York University PhD students at the time of the alleged incident.

A peace bond is not an admission of guilt.

Gray told CBC Toronto she was informed of this development by her lawyer on Monday. She said she was willing to participate in a new trial, but also relieved to put a difficult time behind her.

"I'm so happy," Gray said. "This is the best case scenario."

Gray said she had asked for a peace bond but, when Ururyar initially refused, she started to reluctantly prepare herself for another trial.

Daniel Brown, Ururyar's lawyer, said on Tuesday his client has no comment at this time.

This development is the latest in a nearly three year, highly-publicized saga that has wound its way through several courts.

In 2016, Ururyar was found guilty of sexually assaulting Gray. The alleged incident occurred in the winter of 2015.

But Ururyar, who always asserted he and Gray had consensual sex, appealed his conviction, and in July 2017, the Ontario Court of Appeal overturned it. A new trial was ordered.

Gray said Tuesday she is happy not to return to court.

"I do not feel any disappointment," she said. "I can't go through another four days of cross-examination."