Re: 4/3/00 - [MDMN] Medinah Minerals, Inc. - Legal Update
( BW)(CA-MEDINAH-MINERALS)(MDMN) Medinah Minerals, Inc. - Legal Update
Business Editors
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--April 3, 2001--Management of Medinah Minerals, Inc. announces that on March 27, 2001, Counsel for the Company filed a settlement in the suit commenced by the Company, Les Price and Larry Regis against Michael Menzies and others in Case No. CV-N-00-0163-ECR-VPC in the United States District Court, District of Nevada.
Under the terms of the settlement, the plaintiffs agreed to dismiss the suit as against Mr. Menzies only, but Medinah maintained the right to amend its complaint to include other parties as they are identified. Each of the plaintiffs and Mr. Menzies issued general releases in each other's favour.
The settlement provided further that Mr. Menzies:
1. Will provide Medinah a written retraction of all comments made by him regarding Medinah, its Officers, Directors, agents and employees, including a written apology to Mr. Les Price;
2. Will provide the following to Medinah:
a) A copy of all correspondence he has had with: (1) any person involved with or participating in, directly or indirectly, the Sun Valley Investigative Group; and (2) any person who has made any statement or comment regarding Medinah, its Officers, Directors, agents and employees;
b) A full written disclosure of his relationship with Christian Amunategui, and an identification of the party who provided information and/or instructions to the said person;
c) A full written disclosure of his knowledge of the names of all individuals belonging to, or associated with, the Sun Valley Investigative Group as well as their activities concerning or relating to Medinah, its Officers, Directors, agents or employees.
3. Will not be a member of, or participate in, the Sun Valley Investigative Group, and that he will not be involved, directly or indirectly, in the activities of that group;
4. Will not engage in any publication, through electronic or other means of communication, of material pertaining or relating to Medinah, its Officers, Directors, agents or employees, except material and information that is publicly available through Medinah's filings with Federal, State or other regulatory agencies;
5. Will, if requested by Medinah, voluntarily appear in the State of Idaho for a Deposition.
The settlement stipulates that Medinah can amend its complaint in Case No. CV-N-00-0163-ECR-VPC, which now allows Medinah to enjoin other culpable parties in the existing court case.
For further investor information, please contact Russell Godwin at RGM Communications Inc. (800) 547-9375, (800) 774-5133, (604) 687-1414 or access the web site at medinahminerals.com
Note: This News Release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Medinah Minerals, Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
--30--ck/ny*
CONTACT: RGM Communications Inc.
Investor:
Russell Godwin
800/547-9375
800/774-5133
604/687-1414
www.medinahminerals.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: LEGAL/LAW MINING/METALS
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