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SLON - SALON CITY MAGAZINE!
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[QUOTE]Originally posted by adleraudio: [QB] Salon City, Inc. and Fountain Capital Fund Resolve Dispute 9:00 AM ET - BusinessWire Salon City, Inc. (OTC:SLON) announced today that it has resolved its outstanding claims against Fountain Capital Fund, Inc. and its principal, Garland E. Harris. Under the terms of the settlement, Fountain Capital and Harris have reimbursed Salon City, Inc. for specified expenses, and returned shares of SCI stock that had been transferred to them. In exchange, Salon City, Inc. has dismissed its pending lawsuit against both Fountain Capital and Harris. Harris, president and CEO of Fountain Capital, stated, "Mr. Casciola and I have come to an agreement that enables us to both move forward in a very strong and positive manner. I personally feel good about the prospects for Salon City, Inc. in the future." Added SCI president and CEO Steven Casciola, "We're pleased to report that this nearly year-long dispute has been resolved, and that all parties involved worked diligently to reach a mutually agreeable conclusion. We are now in the process of completing the details of our agreement. "Now that we've cleared this hurdle, we are proceeding full steam ahead with our up listing to the OTCBB," Casciola continued. "We are a stronger company for having gone through this, and we intend to use this experience wisely for positive results with our growing SLON investor base." [/QB][/QUOTE]
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