***** News Release *****
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: AIRWORKS MEDIA INC.
ASE SYMBOL: AWM
OTC Bulletin Board SYMBOL: AWMSF
AUGUST 14, 1998
AirWorks and Goedes Agree to Discontinuance of Actions
EDMONTON, ALBERTA--Effective August 6, 1998, AirWorks Media
Incorporated (AirWorks) and Darryl and Nancy Goede have agreed to
mutual discontinuances of their respective actions and claims.
The discontinuances have been agreed upon for the express purpose
of setting aside the parties' differences, in order to negotiate a
full settlement of all outstanding issues. The parties have also
agreed to the discontinuances as it is their common goal that
AirWorks obtain necessary financing and commence the successful
marketing of AirWorks' products. The discontinuances were
negotiated on the understanding that the parties maintain their
respective rights to recommence the actions and claims.
Cheryl Knebel, CEO and Chairman of AirWorks, declared: "The
discontinuances are wonderful news, as we can now focus our
energies on bringing AirWorks back to full health, by getting
product out into the market, raising needed working capital, and
having the stock once again up and trading." Commenting further
on the discontinuances, Ms. Knebel also stressed: "The Board
believes that a comprehensive and responsible settlement with the
Goedes is possible. Concerned shareholders can take heart from
the fact that discontinuances have been filed, and that the
parties are working towards the common goals of obtaining needed
financing in order to implement the successful marketing of
AirWorks' products."
The Board and management of AirWorks remain committed to the
success of AirWorks, and wish to thank shareholders and creditors
for their patience and understanding during AirWorks' recent
transition and restructuring pains. Shareholders will have an
opportunity to participate in debating AirWorks' plans for the
future at the upcoming Annual General Meeting, which the Board of
Directors has set for Wednesday, October 14, 1998, at 9:30 AM, MST
in Edmonton, Alberta, Canada.
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FOR FURTHER INFORMATION PLEASE CONTACT:
AirWorks Media Incorporated
Cheryl M. Knebel, FCA
Chairman and CEO
(403) 424-9922
airworks@supernet.ab.ca
airworks.com
The Alberta Stock Exchange has neither approved nor disapproved
the information contained herein. |
