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Eight Solutions Inc
Symbol ES
Shares Issued 49,095,488
Close 2015-03-20 C$ 0.64
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Eight Solutions sues Fu Feng Da over loan repayment

2015-03-23 22:15 ET - News Release

Mr. Rory Armes reports

EIGHT SOLUTIONS FILES CIVIL LAWSUIT

In connection with Eight Solutions Inc.'s previously announced loan repayment to Tianjin Fu Feng Da Movie & Television Technology Investment and Development Co. Ltd., FFD has refused to accept the repayment. FFD has also requested that the repayment funds be delivered in a manner that is not authorized by the loan agreement to a third party outside of China, and further requested an additional $1.75-million to release the respective loan security.

As a result of these actions by FFD, the company has filed an action in the Supreme Court of British Columbia against FFD and its sole shareholder, Yong Liu; Qiu Yuxia, a senior partner with Beijing DHH law firm; Beijing DHH law firm; and its Canadian affiliate, DHH Canada Corp. The lawsuit seeks, among other relief, a declaration that all obligations to FFD are extinguished and all security held by FFD must be released, damages for breach of the loan agreement with FFD, as amended, defamation, wrongful interference with economic relations, and slander of title.

We seek Safe Harbor.

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