TORONTO, Feb. 4 /CNW/ - Look Communications Inc. ("Look" or the "Corporation") (TSX Venture: LOK and LOK.A) today announced that Manalta Investment Company Ltd. (formerly known as Craig Wireless International Inc.) ("Craig Wireless") has agreed to a dismissal of its claim, in its entirety, against Look, Unique Broadband Systems, Inc. ("UBS") and other named defendants originally brought before the Ontario Superior Court of Justice on February 19, 2004.
The terms of the dismissal and minutes of settlement include the following:
- Craig Wireless will pay $15,000 in costs to each of Look and UBS; and
- Craig Wireless has executed a full and final release that covers not
only all known injuries, losses and damages, but also injuries,
losses and damages not now known or anticipated but which may later
develop or be discovered, including all the effects and consequences
The Corporation has always maintained that the entire claim initiated by Craig Wireless was unfounded and without merit and is pleased with the outcome.
About Look Communications Inc.
Look's shares are listed on the TSX Venture Exchange under the symbols "LOK" for Multiple Voting Shares and "LOK.A" for Subordinate Voting Shares. Look's website may be found at www.look.ca.
The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of Look that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by Look at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by Look that actual results achieved will be the same in whole or in part as those forecast.
Neither the 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 Look Communications Inc.
For further information: For further information: Peter Block, Investor and Media Relations, firstname.lastname@example.org, (647) 259-3284