Continental Precious Minerals Inc. Settles With Former President and Chief Executive Officer
Continental believed it had a strong case against Mr. Godin on the merits. However, the Company was of the view that collecting on any judgment against Mr. Godin would be difficult, at best, and believes that a settlement avoids the uncertainty, expense, and inconvenience associated with continued litigation.
As a term of settlement of the Action, Continental has agreed to pay $125,000.00 towards Mr. Godin’s legal costs, and $175,000.00, minus withholdings for taxes of $52,500.00, to Mr. Godin for a total payment of $300,000.00.
Continental Precious Minerals Inc.
Norman Brewster, Interim CEO
416-203-7722
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