Hll,
The rmil this news release is about the real issues. Note the 21 million in assets created by the merger
The short sales exceeds the legal float ( + - 1.5 million short) and will be forced to cover when all legal shares certificates are issued to investors.When rmil moves to the AMEX all shorts will have to cover.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 7, 1997--Rocky
Mountain International Ltd. (formerly Olympus Ventures Inc.)
(OTCBB:RMIL) announced Friday that it is responding to the press
release issued Nov. 4, 1997 by Demsey Mork.
In the press release Demsey Mork claims that he filed a lawsuit
against the company and others in the Federal District Court in
California. According to Rocky Mountain International Ltd., this is
the fourth lawsuit that has been filed by Demsey Mork and/or his
affiliated company, Magellan Litigation Services, against Rocky
Mountain International Ltd. and/or its predecessor from Olympus
Ventures Inc. Rocky Mountain said it believes that the charges are
unfounded and are a continued attempt by Mork to manipulate Rocky
Mountain International Ltd.'s stock price to cover his short position
-- all to the detriment of Rocky Mountain International Ltd.'s
shareholders.
Gary Morgan, CEO of Rocky Mountain International Ltd. stated:
"By continuing to defame the company both by outright distortion and
the filing of meritless litigation. Mork is threatening the very
existence of the company. Certain of these many distortion require
immediate correction:
1. Rocky Mountain International Ltd. never issued a press release
that it had acquired Palco, only that a letter of intent to
acquire had been signed. As of this date, negotiations are
ongoing.
2. Mork's statements concerning the merger of Rocky Mountain
Crystal Waters (RMCW) and Olympus (OVIS) are also distortive.
Our public filings state that the combined asset value of the
two companies, including the value of investments, and an
expected $5 million financing commitment from a third party,
would create a company with $21 million in assets.
3. Neither Gary Morgan nor Roland Breton, president of the company,
have ever owned more than approximately 300,000 shares of the
company. Mork's statement is a falsehood.
4. Mork's statement that pursuant to Exchange Action Section
15-c-2-11, the SEC will stop company trading on Friday is also
untrue. We have confirmed with the SEC that, in accordance with
its standard and scrupulously honored policy of confidentiality,
of which we are sure Mork is aware, it has not advised anyone
of its position or of any steps it may take with respect to Rocky
Mountain, Mork, Magellan or anyone else. Perhaps the best
evidence that Mork's statement is untrue is that the Exchange Act
Section in question is entitled 'Initiation or Resumption of
Quotation Without Specified Information' and relates to regulation
of broker dealers, not issuers, and has nothing to do with the
SEC 'shutting down' a company.
"Demsey Mork is on record as having a sizable short position in
Rocky Mountain stock. How can he therefore claim to represent the
interests of our legitimate investors? Mork has employed this tactic
before and Rocky Mountain is yet another victim of his continued
pattern. We have advised the SEC of at least four other companies
with respect to which we believe Mork has engaged in similar conduct:
Development Bancorp Ltd., Fremont Corp., Sunbase Asia Inc. and
BioCorral. Each of these companies has had their stock drop from the
$7 range in the $2 range in one year's time. We are fully
cooperating with the Commission in with respect to Mork and other
matters concerning the company."
The company said it believes that it will prove in court that
Mork knowingly has defrauded, made false accusations and manipulated
the stock of Rocky Mountain International Ltd. for his own self
gain, and at the expense of the 300 hundred shareholders of Rocky
Mountain International Ltd.
RMIL is a manufacturer of pure spring and premium artesian
bottled drinking water and garment manufacturing. RMIL is focusing
its direction on manufacturing, distribution and retailing bottled
water and physical fitness products, which the company believes is
one of the fastest growing areas in the commercial marketplace.
NOTE TO EDITORS: In the Internet/email address noted in this
news release, there is an "at" symbol between ovisusa and aol.com.
This symbol may not appear properly in some systems.
CONTACT: Rocky Mountain International Ltd.
Roland Breton, 954/565-9292
E-Mail: ovisusa@aol.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: FOODS/BEVERAGES APPARELS/TEXTILES
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