Business Transaction

Vancouver, Canada: (Jan-17-08) Several plaintiffs brought a lawsuit against Hillsborough Resources Limited, seeking $21 million, alleging that a failed business transaction resulted in significant losses to the plaintiffs. Sources close to the case stated that the parties had agreed to resolve the lawsuit by entering into a settlement agreement. Under the deal, Hillsborough Resources will pay approximately $78,000 covering certain equipment acquired by Hillsborough under the terms of the original agreement. Additionally, it will deliver from escrow of 100,000 common shares in the capital of the company and return 582,680 shares that would be left in balance. [TRADING MARKETS: BUSINESS TRANSACTION]

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Published on Jan-18-08