SUNGOLD GAMING INTERNATIONAL LTD.
1300 Park Place, 666 Burrard Street
Vancouver, BC V6C 3J8
NEWS RELEASE
June 10, 1999
Trading Symbol: SGGNF - BB
12g 3-2 (b): 82-2157
JUDGE GRANTS SUNGOLD MOTION TO REMAND
Sungold Gaming International Ltd. ("Sungold") wishes to announce that in an Order issued June 7,1999, the Honorable Robert Holmes Bell, United States District Court for the Western District of
Michigan, granted Sungold's Motion to Remand to state court Sungold's suit against the Gun Lake Band, the Band's leaders and related entities. The Gun Lake Band had removed Sungold's suit to
federal court claiming complete federal preemption. In a fourteen-page opinion, the federal court ruled that it did not have subject matter jurisdiction over the lawsuit. The suit has been remanded to the state
court in Michigan for all further proceedings, including trial. Sungold intends to vigorously pursue the claims against the Band, the Band's leaders and related entities. These claims include breach of
contract, fraud in the inducement, fraud/innocent misrepresentation and defamation in which Sungold seeks total damages in the aggregate of $447,800,000.00 plus costs and attorney fees. In addition,
Sungold seeks specific performance, as well as injunctive relief.
Sungold is now being quoted and trading on the Bulletin Board* under the symbol SGGNF. Additional market makers are expected soon.
*The OTC Bulletin Board is a registered service mark of the NASDAQ Stock Market, Inc. SUNGOLD GAMING INTERNATIONAL LTD.
Per:
Kim N. Hart, President
TEL: (604) 669-9580
For more information regarding this release or to be updated on future corporate news, please contact
Anne Kennedy at (604) 669-9580 or contact Anne by email: akennedy@sungoldgaming.com |
