Clearly Canadian - settlement of litigation and cancellation of escrow shares.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 4, 1995-- Clearly Canadian This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Beverage Corp. ("Clearly Canadian") wishes to announce that it has reached a settlement of certain litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and claims involving Clearly Canadian and one of its subsidiaries, the Water Works Tub Company Ltd. ("Water Works"). The litigation was commenced by Paul Theberge and Steve Kovacs, who had previously operated Water Works for Clearly Canadian prior to Clearly Canadian discontinuing Water Work's business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets in September 1993. In connection with Water Works, Theberge and Kovacs collectively owned 428,572 escrow shares of Clearly Canadian (214,286 escrow shares each). Pursuant to the terms of settlement between Clearly Canadian, Theberge and Kovacs, the 428,572 escrow shares will be voluntarily surrendered to Clearly Canadian for cancellation. ON BEHALF OF THE BOARD OF DIRECTORS Douglas L. Mason Chief Executive Officer -0- CLEARLY CANADIAN BEVERAGE CORP. is the registered holder of the trademark "Clearly Canadian(R)". CLEARLY CANADIAN BEVERAGE CORP., and its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , produce, distribute and market CLEARLY CANADIAN(R), CLEARLY TEA(TM), and CLEARLY 2(TM), a line of flavoured and unflavoured water beverages. Through distribution and/or licensing agreements, CLEARLY CANADIAN(R) is sold throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Japan, the United Kingdom, the Republic of Ireland, the Caribbean and other countries worldwide. -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Douglas L. Mason, 604/683-0312 1-800-663-5658 (U.S.A.) 1-800-663-0227 (Canada) 604/683-2256 (Fax) |
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