Friday July 17, 2:36 pm Eastern Time
Company Press Release
Grand Central Silver Reaches Settlement With Former President
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--July 17, 1998--Grand Central Silver Mines (NASDAQ:GSLM - news) Friday announced that it has reached a settlement with Dr. Spenst M. Hansen and other parties named in a lawsuit filed on April 28, 1998.
Under the terms of the agreement, the company will sell certain property assets in the Tintic Mining District to Dr. Hansen and his affiliates in exchange for return of GSLM shares and cash, and the parties will exchange mutual releases. In entering into the Settlement Agreement, no party to the litigation admitted any liability
as to any matter.
Grand Central Silver Mines Inc. is a U.S. based exploration company focusing on silver projects in Utah, Nevada, and Mexico.
Contact:
Grand Central Silver Mines Inc., Coeur d'Alene
John Ryan, 208/769-7340
David Nahmias, 800/361-6914 |
