11:31:04 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Newport Exploration Ltd
Symbol NWX
Shares Issued 88,429,874
Close 2015-07-02 C$ 0.31
Market Cap C$ 27,413,261
Recent Sedar Documents

ORIGINAL: Newport, Reva settle class action for $105,000

2015-07-03 12:07 ET - News Release

Also News Release (C-RVA) Reva Resources Corp

Received by email:

File: NWXNR07032015 FINAL.docx

NEWPORT EXPLORATION LTD. - and - REVA RESOURCES CORP. 
Suite 408 - 837 West Hastings Street Vancouver, B.C. V6C 3N6
Telephone:  (604) 685-6851 Fax:  (604) 685-6493

NEWS RELEASE

ATTEMPTED CLASS ACTION AGAINST NEWPORT, REVA AND DIRECTORS DISMISSED BEFORE CERTIFICATION


Vancouver, BC - July 3, 2015.  Newport Exploration Ltd. ("Newport") and Reva Resources Corp. ("Reva") are pleased to a
--->nnounce that the action commenced under the Class Proceedings Act (the "Action") brought against Newport and Reva and 
--->certain of their directors and officers (the "Defendants"), as detailed in the news release of Newport dated July 3, 2
--->014 has been dismissed prior to certification.

A settlement was reached in advance of a certification application hearing and the Action has been dismissed against a
--->ll Defendants.  In connection therewith, the plaintiff settled for a sum of CDN$105,000 which amount has been represen
--->ted to the Defendants as being less than half of the legal fees and disbursements incurred to date by the plaintiff.  

While the Defendants remain of the view that the allegations raised against them in the Action were completely without
---> merit, the settlement was determined to be in the best interests of the Defendants as it ends the litigation process 
--->and associated future costs and allows the companies to focus entirely on their businesses without unproductive distra
--->ction.


For further information contact: 

Ian Rozier, Director and Chief Executive Officer, Newport Exploration Ltd.
1-604-685-6851
info@newport-exploration.com 

Douglas Scheving, Director and Chief Executive Officer, Reva Resources Corp.
1-604 685-6851
info@revaresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this news release.



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