PreveCeutical Announces Default Judgment Against Essos Corporate Services Inc. and Detona Capital Corp.
March 25th, 2019, Vancouver, British Columbia: PreveCeutical Medical Inc. (the “Company” or “PreveCeutical”)(CSE: PREV, OTCQB: PRVCF, FSE: 18H), announces that it has obtained a default judgement against each of Essos Corporate Services Inc. (“Essos”) and Detona Capital Corp. (“Detona”) in connection with a Supreme Court of British Columbia action (the “Action”). The Action was brought by PreveCeutical in December 2018, against a group of defendants (the “Defendants”) for fraudulent misrepresentation, breach of contract, conspiracy, unjust enrichment and breach of duty of honest performance in connection with services that the Defendants failed to provide to PreveCeutical, and various consulting agreements and subscription agreements entered into between PreveCeutical and certain of the Defendants (see news release dated January 7, 2019).
“The default judgement shows due process and that proceedings are moving forward. We have confidence in the judicial system and thank our shareholders for their continued patience while we see this through,” said PreveCeutical’s Chairman and CEO, Stephen Van Deventer.
A notice of civil claim was filed on December 17, 2018 by the Company, as plaintiff, in the Action against the Defendants, consisting of Aly Babu Mawji, Justin Liu, BridgeMark Financial Corp., Rockshore Advisors Ltd. (formerly known as, Cam Paddock Enterprises Inc.), Detona Capital Corp., Escher Invest SA, Essos Corporate Services Inc., Jarman Capital Inc., JCN Capital Corp., Kendl Capital Limited, Lukor Capital, Northwest Marketing and Management Inc., Sway Capital Corp. and Tryton Financial Corp.
The amount of damages and costs to be awarded to the Company and against Essos and Detona remain to be assessed by the court. The Company is continuing to pursue its claims against the other Defendants in the Action.
