VANCOUVER, April 26 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR;
Frankfurt: MHM1) ("Mediterranean") announces that the Company has filed
a Response and Counterclaim on April 21, 2011 to the Notice of Civil
Claim filed against Mediterranean by its former CEO and President, Dr.
Peter Guest, on March 28, 2011, in the Supreme Court of British
Columbia. As noted in the Company's news release of March 31, 2011, Dr.
Guest's employment agreement with the Company was terminated for cause
on March 15, 2011, and he voluntarily resigned as a Director of the
Company on March 17, 2011.
It is Mediterranean's position that Dr. Guest's claims against the
Company have no merit or foundation and the Company intends to fully
defend itself in this matter.
The Counterclaim is based on allegations of tort, breach of contract and
breach of fiduciary duty in relation to Peter Guest's activities as a
former officer and director of the Company. The counterclaim further
alleges conspiracy against Peter Guest, his wife Dr. Cheryl Guest, and
her business entity 494361 B.C. Ltd., in relation to payments made to
Cheryl Guest for expenses unrelated to the Company's business.
Mediterranean is being represented in this matter by Kevin O'Neill of
Fasken Martineau DuMoulin LLP, Barristers & Solicitors.
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:
Interim Chief Executive Officer