Knightscove Media Corp.

Knightscove Media Corp.

February 24, 2011 15:01 ET

Knightscove Media Corp. Announces Resolution to Claim Involving Georgeville Films LLC, Marc Rosen and Ocean Point Advisors

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2011) - 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.

Contact Information

  • Knightscove Media Corp.
    Leif Bristow
    President and CEO
    (416) 444-7900 x222