SALT LAKE CITY, Nov. 10, 2005 (PRIMEZONE) -- WTRG Corp. (WTRG) responds to the Notice of Reply filed in the Provincial Court of British Columbia (Registry File Number 0509187) of October 25, 2005 by APEX Resources Group (APEX).
WTRG emphatically denies it or its agents have made any threat of any kind and dispute the allegations that "threats" to Apex Resources Group or Mr. John Hickey have ever been made.
WTRG is simply seeking all legal remedies afforded it thru the court system only after attempting to resolve this matter directly with the company for 3 months without a resolution. It is the opinion of WTRG that only after almost 3 months of APEX' stalling, excuses and non-payment due to WTRG did WTRG file a Notice of Claim on October 5, 2005.
It was only after WTRG issued a news release on October 11, 2005 that APEX made any attempt to fulfill its contractual obligations to WTRG. As a result of APEX retaining the certificate of WTRG for 3 months and non payment to WTRG of the July 1, August 1 and September 1 payments until the end of October on the 25th. WTRG suffered damages.
WTRG is of the opinion that it has suffered damages not only as a direct result of APEX' delays but APEX' blatant breach of Agreement and WTRG will seek to be compensated through the court for APEX' breach.
WTRG denies that its release dated October 11th was the reason for what APEX calls "a negative impact on APEX and could have contributed to the steady decline in the Company share price in the past trading 21 days."
In a release dated Nov. 10 APEX stated "The Company never denied owing the money," however, payment was not made until October 25, almost 3 months after the July 1 payment was due.
APEX' 10k, dated November 4th, lists several delinquent accounts. It is the opinion of WTRG that the fact that WTRG is the first to file suit against APEX does not necessarily mean WTRG is the cause of APEX' decline.
About WTRG Corp.
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