COMPANY RECEIVES $1
MILLION
/NOT FOR DISTRIBUTION
IN THE UNITED
STATES OR
THROUGH ANY UNITED
STATES WIRE
SERVICES/
MARKHAM, ON, June 7, 2017 /CNW/ - Nexia Health Technologies
Inc. (TSX-V: NGH.H) ("Nexia" or the "Company") announced today that
it had reached an agreement to settle a legal dispute.
As a result of this settlement, the Company received
one million Canadian dollars
($1.0 million) as full and final
release of all matters related to this dispute.
The Company remains involved in another legal matter with a
former software development vendor of the Company claiming payment
for service fees and termination fees, which the Company believes
are excessive and not supported by the agreements. Nexia has filed
a counterclaim seeking reimbursement for damages and fees already
paid. This dispute is currently in arbitration in the State of New York.
Forward-Looking Statements
This release contains forward-looking statements.
Forward-looking statements, without limitation, may contain the
words believes, expects, anticipates, estimates, intends, plans, or
similar expressions. Forward-looking statements are not guarantees
of future performance. They involve risks, uncertainties and
assumptions and actual results could differ materially from those
anticipated. Forward looking statements are based on the opinions
and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
In the context of any forward-looking information please refer to
risk factors detailed in, as well as other information contained in
the Company's filings with Canadian securities regulators
(www.sedar.com).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Nexia Health Technologies Inc.