Well, if that does not clear the air, nothing will!
For those who have not seen it, here it is:
USA Project
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USA
Sungold has an agreement with the Gun Lake Band of lower Michigan (aka: Match-e-be-nash-she-wish) for the development and management of a class III casino.
In the past four plus years, the Company has provided financial support and assistance as per the agreements between Sungold and the Gun Lake Band towards the completion of the Federal Acknowledgment Process, which will establish the Gun Lake Band as a Federally Recognized Native Indian Tribe. The Company retained William L. Church, who has an intimate knowledge of American Indian history and Federal Indian policy and law to assist in this process.
Once recognized, the Tribe will be able to apply for a gaming compact to operate an unrestricted (Class III) gaming facility within its historic lands (which include the heavily populated areas of lower Michigan and upper Ohio). On October 22, 1998, Kevin Gover, the Assistant Secretary for Indian Affairs, issued a Final Determination in favor of the Gun Lake Band becoming a federally recognized tribe. A ninety day comment period has now expired and a formal federal acknowledgement of the band as a tribe qualifying for government to government relations with the United States is expected.
The Gun Lake Band has granted Sungold the exclusive right to develop and manage the Casino and to receive a management fee of not less than 30% and not more than 40% of the net operating revenues for 5-7 years, or the maximum allowable under law. On July 8, 1998, the Gun Lake Tribal Council issued a notarized resolution authorizing Sungold to secure land on Highway 75 in Michigan approximately eight miles from the Ohio border and to provide tracts of land large enough that the tribe's casino may be placed there. The Gun Lake Band also agreed to put forward this 70 plus acres of land near South Otter Creek road exit as its designated initial reservation as per Indian Gaming Regulatory Act (IGRA) of 1988.
It is Sungold's position that its agreement with the Gun Lake Band is an enforceable agreement, which continues to be in effect. Sungold has in good faith performed its obligations under the agreement and intends to continue to perform its obligations as set forth in the agreement.
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