VAUGHAN, ONTARIO--(Marketwired - Aug. 29, 2016) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES.
Rockefeller Hughes Corporation ("Rockefeller" or the "Company"), listed on the TSX Venture Exchange (TSX VENTURE:RHC), is
pleased to announce that is has come to final settlement with the 3 remaining shareholders in a previously disclosed
litigation matter dating back to 2013. As announced formerly, the Company and defendants had already entered into settlement
agreements with 9 of the 12 original plaintiffs in this litigation matter and have now completed settlement agreements with the
remaining 3. Claims by the settling plaintiffs against the defendants are on a without prejudice basis and the parties have
provided full and final mutual releases.
The Company would also like to announce that it has dissolved its wholly-owned subsidiary RHC Energy (USA), LLC ("RHC
Energy"). RHC Energy held Rockefeller's oil and gas assets in Texas. The basis for the decision to dissolve RHC Energy
was that it no longer contained any assets and Rockefeller has no further intention of pursuing oil and gas interests in
Texas. RHC Energy took all reasonable steps to discharge its liabilities prior to dissolution. The Company is pursuing
strategic alternatives at this time.
About Rockefeller Hughes Corporation
The Company is listed on the TSX Venture Exchange under the symbol RHC. There are currently 75,216,186 common shares issued
and outstanding. For additional details please visit Rockefeller's website at www.rockefellerhughes.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term that is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.