MicroCoal Technologies Inc. (CSE:MTI) has entered a full and final settlement and release with Orica U.S. Services Inc.. The settlement is regarding all claims between MicroCoal and Orica that related to the acquisition by the company of MicroCoal Inc. between 2011 and 2013.
As quoted in the press release:
As part of the settlement, the Company has agreed to pay US$150,000 to Orica in satisfaction of all amounts owing from the Company to Orica.
MicroCoal CEO, Lawrence Siegel, said:
We are pleased to have this matter behind us, so that management can focus on executing on our strategy and advancing MicroCoal’s clean-coal upgrading technology.