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05:06:34 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Eight Solutions Inc
Symbol ES
Shares Issued 49,095,488
Close 2015-03-20 C$ 0.64
Market Cap C$ 31,421,112
Recent Sedar Documents

Eight Solutions sues Fu Feng Da over loan repayment

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

News Subject: SEDAR News: Eight Solutions Inc. Attached PDF e:\sedaronline\sedar2015\sedar20150323\02323031-00000001-00032107-C@#Users#Lindsay#Desktop#esnr03232015-PDF.pdf File: 02323031-00000001-00032107-C@#Users#Lindsay#Desktop#esnr03232015-PDF.pdf Eight Solutions Files Civil Lawsuit VANCOUVER, BC, March 23, 2015 -- Eight Solutions Inc. (CSE:ES) ("Eight" or the "Company") announces that in connection with its previously announced loan repayment to Tianjin Fu Feng Da Movie & Television Technology Investment and Development Co., Ltd. ("FFD"), 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 Corporation (collectively, "DHH"). 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. About Eight Solutions Eight Solutions Inc. is a media technology company led by a team of gaming industry veterans. The Company creates and develops elegant technology solutions where science and art are brought together to solve business challenges. Eight's portfolio includes: TwoCubed, an industry leading 3D technology platform; Cumul8, a data analytics solution focused on data visualization; and Reelhouse, an on-line entertainment distribution community. For more information, visit www.eightsolutions.com. On Behalf of the Board of Directors "Rory Armes" Rory Armes Chief Executive Officer and Director The CSE does not accept responsibility for the adequacy or accuracy of this release. Forward Looking Statements Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Although Eight believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise. For more Information, please contact: Danielle Rockel Vice President of Corporate Affairs Danielle@eightsolutions.com Suite 100, 138 East 7th Avenue Vancouver, British Columbia, V5T 1M6 Phone: (604) 669-8885 Fax: (604) 669-8855

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