Castello Casino Corp. - Announcement.Business Editors TORONTO--(BUSINESS WIRE)--June 9, 2000 Castello Casino casino or cassino (both: kəsē`nō). 1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa. Corp. ("Castello") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCCZ) announced that on June 5th, 2000, Castello was served a Notice of Application in the Supreme Court of Justice (Ontario). The Application is made by Steven R. Fox against Castello Casino Corp. The Application is for an order declaring that Castello failed to give proper notice of the Meeting of Directors held on April 18th, 2000. The Application is scheduled to be heard on Friday, June 30th, 2000, at 10:00 a.m. in Toronto. The Application is for an order declaring that various resolutions and business transactions approved at the meeting are of no force and effect including the resignation of Peter Bariamis and the approval of David L. Hynes as a director and President; the resolutions that Castello enter into a Share Exchange Agreement with BioForest Investments Inc; enter into a Private Placement Convertible Debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. and Share Purchase Warrant Agreement; as well as an order prohibiting and restraining RESTRAINING. Narrowing down, making less extensive; as, a restraining statute, by which the common law is narrowed down or made less extensive in its operation. Castello from holding a special Meeting of the Shareholders on July 5th, 2000. Mr. Fox Mr. Fox were a band, part of the British "electric folk" or "folk rock" movement, circa 1970. Members:
Castello was also served a Statement of Claim on behalf of Beach Tree Trust of Nassau. The Claim is an amount of US$1,135,234 and 594,999 shares of Castello. Beach Tree claims that various sums of money were paid to Castello to finance a gaming facility in Venezuela. Ross McGroarty has also been named as a defendant. Castello will defend the Notice of Application and Statement of Claim. Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve risks and uncertainties, which may cause the company=s actual results in future periods to differ materially from those expressed. These uncertainties and risk include changing consumer preferences, lack of success of new products, loss of the company's customers, competition and other factors discussed from time to time in the company=s filings with the Securities & Exchange Commission. No securities regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved of the contents of this news release. |
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