Canada NewsWire
MARKHAM, ON, June 7, 2017
COMPANY RECEIVES $1 MILLION
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH ANY UNITED STATES WIRE SERVICES/
MARKHAM, ON, June 7, 2017 /CNW/ - Nexia Health Technologies Inc. (TSX-V: NGH.H) ("Nexia" or the "Company") announced today that it had reached an agreement to settle a legal dispute.
As a result of this settlement, the Company received one million Canadian dollars ($1.0 million) as full and final release of all matters related to this dispute.
The Company remains involved in another legal matter with a former software development vendor of the Company claiming payment for service fees and termination fees, which the Company believes are excessive and not supported by the agreements. Nexia has filed a counterclaim seeking reimbursement for damages and fees already paid. This dispute is currently in arbitration in the State of New York.