CARLSBAD, CALIFORNIA--(Marketwired - March 10, 2014) - Pacific Vector Holdings Inc. (TSX VENTURE:PVH) a premier action sports retailer and consumer brands company, has reached a settlement agreement with the former President of Ryderz Compound. The settlement addresses certain matters related to an employment contract dispute prior to the acquisition or Ryderz Compound by Pacific Vector Holdings. Under the terms of the settlement, Ryderz Compound shall pay a total of USD$55,000 and grant 8% equity ownership in Ryderz Compound, a subsiduary of Pacific Vector Holdings Inc. Pursuant to the purchase and sale agreement with the sellers of Ryderz Compound, all expenses associated with this claim will be covered under the indemnity clause.
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Pacific Vector is a premier action sports retail and consumer brands company. www.pacificvector.com
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Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Pacific Vector assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Pacific Vector.