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PCG.H

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:PCG.H TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

PetroCorp Group Inc. Announces Dispute Notice

14/04/2011 10:24pm

Marketwired Canada


PetroCorp Group Inc. (NEX BOARD:PCG.H) (the "Corporation") announced today that,
further to its press release of April 1, 2011, the Corporation has sent a
dispute notice and an objection to a claims notice in response to an indemnity
notice and claims notice (the "Powell Notices") it received from Powell Canada
Inc. and affiliated companies (collectively, "Powell") pursuant to the Asset
Purchase Agreements dated October 21, 2009 (the "APAs") and an Escrow Agreement
dated December 15, 2009. Powell is claiming a total of $8,541,384.86 pursuant to
the Powell Notices. The Corporation is disputing the entire amount claimed by
Powell under the the Powell Notices and plans to vigorously defend itself in
this matter.


Neither the NEX, nor its Regulatory Services Provider (as that term is defined
in the policies of the NEX) accepts responsibility for the adequacy or accuracy
of this release.


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