Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Corel Corp. -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Shaffer who wrote (6845)	6/25/1999 10:22:00 AM
From: Vitalsigns	Read Replies (2) \| Respond to of 9798

Settled. Now we move on. Corel reaches agreement with government of Canada Corel Corp COR Shares issued 59,411,209 Jun 24 close $5.15 Fri 25 Jun 99 News Release Dr. Michael Cowpland reports The government of Canada and Corel Corporation have reached agreement on a final settlement related to complaints filed by Corel in the summer of 1998 with the Canadian International Trade Tribunal (CITT). These complaints concerned a procurement for a standard Year 2000-compliant desktop office suite for Revenue Canada. The agreement was jointly announced today by the Hon. Alfonso Gagliano, minister of public works and government services and Dr. Michael Cowpland, chairman, president and chief executive officer of Corel Corporation. In accordance with direction contained in the determination rendered by the CITT after hearing the complaints, a negotiated settlement in the amount of $9.9-million has been reached. This amount represents full and final settlement covering all claims by Corel arising from this procurement. "I am pleased that an agreement has been reached in this claim," stated Mr. Gagliano in announcing the settlement. Dr. Cowpland also expressed his satisfaction with the final settlement. "This is a reasonable settlement and we look forward to future opportunities to market our products to the government of Canada, within Canada and internationally." (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com