IMA's Offer to Aquiline is Rejected.VANCOUVER, British Columbia -- IMA (Interactive Multimedia Association, Annapolis, MD) An earlier trade association founded in 1988 originally as the Interactive Video Industry Association. It provided an open process for adopting existing technologies and was involved in subjects such as networked services, scripting Exploration Inc. (TSX VENTURE:IMR)(AMEX AMEX See: American Stock Exchange :IMR)(BERLIN:IMT IMT, n.pr See inspiratory muscle training. )(FWB:IMT)(WKN 884971). Mr. Joseph Grosso, President on behalf of the Board reports that Aquiline Resources Inc. has summarily rejected IMA's offer to settle the litigation claim involving IMA's Navidad Project. IMA's offer was communicated to the Aquiline directors on September 29 at noon PST PST Paroxysmal supraventricular tachycardia, see there and Aquiline rejected the offer 24 hours later, on September 30 at noon PST. IMA's offer represented a value of approximately $21,000,000 and upon acceptance could have appreciated substantially. The rejection of IMA's offer and the resulting protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. legal case, with no guarantee of success, will deprive Aquiline shareholders of the opportunity represented by IMA's offer and impose a heavy financial and management cost. IMA continues to assert that Aquiline has no claim whatsoever and we are fully prepared to vigorously defend this position. ON BEHALF OF THE BOARD Mr. Joseph Grosso, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or the accuracy of this release. IMA Exploration Inc. (TSX VENTURE:IMR) (AMEX:IMR) (BERLIN:IMT) (FRANKFURT:IMT) |
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