VANCOUVER, Nov. 7, 2011 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR;
Frankfurt: MHM1) (the "Company") wishes to update the market on the
progress of its legal action with its former CEO, Peter Guest and its
former sub-tenant, Dr. Cheryl Guest. The full text of the counterclaim
filed by the Company in April against Peter Guest and Cheryl Guest is
now available online at the following link on the Company's website. http://www.medresources.ca/news/2011/november07/litigation.pdf
The trial date for this matter has been set for April 2012 and the
Company's litigators, Fasken Martineau DuMoulin LLP have been asked by
the Company to expedite the examinations for discovery of Peter Guest
and Cheryl Guest at the earliest possible date.
The Company is pleased to announce that its monthly income from
subletting of office space at its Vancouver office is running at $4,500
per month. This compares with the $300 per month in sub-let income
received by the Company at the same time last year when Cheryl Guest,
the wife of the former CEO, was the Company's sub-let tenant.
Signed on behalf of the Board of Directors.
The TSX does not accept responsibility for the adequacy or accuracy of
SOURCE Mediterranean Resources Ltd.
For further information:
Chief Executive Officer