Lawsuit to name principals of GEM Holdco, Inc.
CALGARY, May 1, 2013 /CNW/ - Ridgeline Energy Services Inc. ("Ridgeline"
or the "Company") (TSXV: RLE, OTCQX: RGDEF, FSE: RL7) a water treatment
and energy technology company, today announced that it has engaged
legal counsel to file a lawsuit against Global Emerging Markets NA,
Inc. and its subsidiary GEM Holdco Inc. of New York ("GEM") for damages
greater than 140 million dollars.
In addition the action names Christopher Brown, claimed CEO of GEM, as
well as counterparts, Edward Tobin and Demetrious Diakolios as
defendants. GEM has made claims to have an investment fund worth over a
Ridgeline will pursue civil charges including Fraud, Tortious
Interference, and additional claims under the Racketeering in Organized
Crime Act, which qualifies for treble damages. Ridgeline will also show
that GEM attempted to extort cash payments from Ridgeline, and its
current CEO, Dennis M Danzik under threats of GEM releasing negative
news on Ridgeline via wire services in the U.S. and Canada.
Ridgeline's claims stem from the fact that GEM and the individual
defendants represented that they owned and controlled Changing World
Technologies, LP ("CWT") and that GEM had made substantial investment
in CWT, when in fact GEM was a small minority shareholder in CWT with
less than US$ 800,000.00 invested.
Further progress of the legal action by Ridgeline will also show GEM was
involved in an attempt to setup a fraudulent investment in CWT, where
GEM would purport to invest a total of US$ 4,000,000, but in fact was
arranging a fraud, where the investment would be returned to GEM within
few days, without the knowledge of the true owner and seller of CWT,
which was CWT Enterprises Canada, Inc.
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is a water treatment and energy
technology company. The Company is applying proprietary technology to
treat water generated from industrial and commercial waste water
markets. These markets include a wide variety of clients across a broad
spectrum of industries including oil and gas. Through its environmental
consulting and remediation divisions, Ridgeline Environment has built a
reputation as an established provider of environmental services to the
Western Canadian oil and gas industry. Ridgeline GreenFill provides
soil remediation and wet waste disposal services to the oil and gas
industry. The Company trades on the TSX Venture Exchange under the
symbol "RLE", the OTCQX as "RGDEF" and the Frankfurt Stock Exchange as
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Ker, CEO
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release. This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results may
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as no assurances can be given as to future results, levels of activity
SOURCE: Ridgeline Energy Services Inc.
For further information:
David Waldman at Crescendo Communications
(212) 671-1021 (New York)