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Wildcat Provides Update in Respect of Former Executive's Legal Claim
Wildcat Provides Update in Respect of Former Executive's Legal Claim.
About this update from Fuse Battery Metals Inc
[{"type":"text","content":"\n\n\n\nWINNIPEG, Aug. 23 /CNW/ - Wildcat Exploration Ltd. (WEL: TSX-V) (the\n"Company") announces that in connection with the action commenced on\nFebruary 9, 2007 in the Ontario Supreme Court of Justice by Shlomo Prizant,\nformer President and CEO of the Company, against the Company and Jerrold\nSiemens, a director of the Company, Mr. Prizant has increased his claim for\ndamages for defamation from $1,000,000 to $10,000,000. Management believes\nthat Mr. Prizant's claim is entirely without merit and continues to vigorously\ndefend itself in this claim. As previously disclosed, the Company has filed a\nstatement of defense and counterclaim to recover damages caused to the\nCompany.\n\n\nIn support of the Company's position relating to Mr. Prizant, the final\nreport of PriceWaterhouseCoopers LLP, entitled "Investigation of the Financial\nActivities of Shlomo (Sol) Prizant", confirming the findings of their interim\nreport, has been received and will be distributed to the Company's\nshareholders with materials for the Annual and Special Meeting scheduled to be\nheld on September 20, 2007.\n\n\nIn addition, in connection with the special shareholders' meeting in\nApril 2007, the Court of Queen's Bench ordered Mr. Prizant and an associate of\nMr. Prizant's to pay certain costs to the Company, which the Company is\nattempting to collect.\n\n\nAbout Wildcat Exploration Ltd.\n\n\nWildcat Exploration Ltd. is a Winnipeg-based company exploring for gold\nand base metals in Canada. Its portfolio includes: (1) the Foster River zinc\nproject in Saskatchewan, (2) three gold properties and one gold and platinum\ngroup element (PGE) property in the Rice Lake greenstone belt in Manitoba, and\n(3) two PGE properties in the Snow Lake area of Manitoba. As the Company\nbuilds its property portfolio, Wildcat welcomes proposals from owners of\nadvanced Canadian exploration properties.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\nFor further information on the Company please visit our website at\nwww.wildcat.ca or contact us at [email protected]. The Company's public filings,\nincluding its most recent audited consolidated financial statements, can be\nreviewed on the SEDAR website (www.sedar.com).\n\n\nThis news release may contain "forward-looking informat...