Knightscove Media Corp. Announces Resolution to Claim Involving Georgeville Films LLC, Marc Rosen and Ocean Point Advisors
24 Fevereiro 2011 - 5:01PM
Marketwired
Knightscove Media Corp. (TSX VENTURE: KC.A)(TSX VENTURE: KC.B)
("Knightscove", "Company") is pleased to announce that the Ontario
Superior Court of Justice action commenced against it by
Georgeville Films LLC, Marc Rosen and Ocean Point Advisors Inc.
(the "Plaintiffs") has been fully resolved.
The Plaintiffs commenced the action on September 10, 2010
seeking damages in the sum of approximately $3,800,000.00 together
with shares in the capital pool of Knightscove and other
relief.
Knightscove ardently disputed the claims against it and
vigorously defended the action. These efforts were successful, with
all parties having now entered into a full and final settlement
whereby the Plaintiffs are to receive the total sum of $40,000 US
together with 100,000 shares in the capital pool of Knightscove.
The Plaintiffs, in exchange, have fully and finally released
Knightscove and related corporations from any and all causes of
action which were or could have been pleaded in the action.
As part of the settlement, Knightscove expressly denies
liability for the allegations made against it. No judgment will be
entered against Knightscove in connection with this matter.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release or the
information contained herein.
Contacts: Knightscove Media Corp. Leif Bristow President and CEO
(416) 444-7900 x222
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