CHANTILLY, VA, Nov. 8, 2011 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW),
providers of laser-based wind sensor products and technology, announced
today that in connection with the preliminary injunction filed by the
Company in the Circuit Court for Prince William County, Virginia,
against Optical Air data Systems, LLC ("OADS") and Philip L. Rogers,
the former President and CEO of the Company, it has received a copy of
a counterclaim filed by OADS and Mr. Rogers against the Company,
pursuant to which Mr. Rogers has asserted a claim for severance under
his employment agreement and OADS has asserted a claim for breach of
the sublease agreement between the Company's wholly-owned subsidiary
The Company believes that the claims made by Mr. Rogers and OADS are
without merit. The Circuit Court for Prince William County has
temporarily stayed all of the actions in these proceedings pending the
outcome of court ordered mediation.
About Catch the Wind Ltd.
Catch the Wind Ltd. is a high-growth technology company headquartered in
Chantilly, Virginia. The Company was founded in 2008 to develop and
manufacture the Vindicator® laser wind sensor.
Catch the Wind serves the commercial market sector for laser based wind
sensor systems, recognized as the "gold standard" in wind measurement.
The Company is focused on becoming a major contributor in making clean,
renewable wind energy more affordable and profitable. For more
information, please visit www.catchthewindinc.com and follow us at www.twitter.com/Catchthewindinc.
This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed in such forward-looking statements. Forward-looking
statements in this news release, include, but are not limited to,
economic performance and future plans and objectives of Catch the Wind.
Any number of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results. Although Catch the Wind believes that the assumptions and
factors used in making the forward-looking statements are reasonable,
undue reliance should not be placed on these statements, which only
apply as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed timeframes or at
all. Catch the Wind disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Catch the Wind Ltd.
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