To: s martin who wrote (19032 ) 11/17/1997 3:32:00 PM From: tonto Respond to of 55532
Management of Olympus Mills Displays Confidence in Company Fort Lauderdale, Florida WednesdaySeptember 4,1996 Olympus Ventures Inc.(OTCBB-OLPV)announced today that Gary Morgan's... Mr. Morgan spent the labor day weekend in Jamaica where Olympus Ventures shipping line CEA is finishing the refurbishing of their flagship "Pilar del Caribe." "By promoting the shipping line, our presence will be felt throughout the Caribbean, says Mr. Morgan. Owning CEA gives us the competitive edge we need in the garment manufacturing business. Consistently visiting all of the major ports gives us an accurate pulse of the market place, which greatly influences the pace at which we want to grow. I think North America is just beginning to take advantage of the many resources available to us in the Caribbean and Central America." On January 8, 1996 the Company's chief executive officer resigned. Since his resignation the Company has had several chief executive officer's. Current management joined the Company on July 15, 1996. Current management has had communications with the officer that resigned to compel him to return the following to the Company: (1) the assets of CEA (including the ocean shipping vessel), (ii) the books and records of CEA, and (iii) the books and records of the Company from inception through December 31, 1995. To date, current management has been unable to reach an agreement with the former chief executive for the return of the above. Management is currently investigating its legal options, but believes that it may not be practicable or economically reasonable to further pursue this matter. Morgan and company had control of the ship, as per the press release of the company. The filing indicates otherwise. The company should immediately clarify.