MKBY maybe it finally breaks out on this news.....
Ishpeming Windstor Progress
Updates regarding the WindStor project in Ishpeming Michigan
August 22, 2008
McKENZIE BAY SETTLES MTI LAWSUIT
ISHPEMING WINDSTOR PROJECT TO BE COMPLETED
McKenzie Bay International Ltd "MKBY:PK" and MTI Lighting Specialists Inc. have entered into an agreement to settle the lawsuit brought forth by MTI regarding their WindStor� license agreement, issuance of McKenzie Bay Common Shares, and completion of the Ishpeming, Michigan WindStor installation.
Settlement terms of the lawsuit include an exclusive license to MTI for the manufacture and marketing of WindStor. MTI will issue a 5.0% membership interest in its affiliated power sales company, Clean Green Energy LLC, to WindStor Power Company. At closing, the MTI lawsuit will be dismissed and the completion of the WindStor project at the Ishpeming Housing Commission facility will move forward.
In addition, a $6-million investment by qualified new investors at the greater of $0.10/share or five day market average has been authorized to retire outstanding McKenzie Bay indebtedness, including Yorkville Advisors debenture and fund operations, until revenues support expenses. MTI will return all Common Shares received last year for re-issuance, less three million shares.
Finally, all McKenzie Bay Directors and Officers will resign at closing immediately after appointing a slate of New Directors put forth by new investors.
AI
Market Data 
Markets 
