Toronto, Ontario--(Newsfile Corp. - December 21, 2018) -Blocplay Entertainment Inc. (CSE: PLAY) ("Blocplay" or the "Company"), announces that, further to its press release of November 15, 2018, the Company has filed a Statement of Defence with respect to the action commenced by Vince McMullin, former Chief Technology Officer of the Company. In connection with the Statement of Defence the Company has filed a counterclaim in the Ontario Superior Court of Justice against Messrs. Vincent McMullin and John Nguyen, former officers and directors of the Company alleging, among other things, breach of fiduciary duties and misappropriation of corporate assets.
In addition, the Company has commenced an action against TurboPlay Corporation ("TurboPlay"), a corporation founded by Messrs. McMullin and Nguyen, alleging, among other things, theft and misappropriation of intellectual property.
Management is aware of a press release of TurboPlay indicating that TurboPlay has licensed Heavy Gear Assault from the Company. The agreement was signed on behalf of the Company by an individual who had no authority to bind the Company. As a result, the Management is of the opinion that the agreement is null and void and of no force and effect.
For further information, please contact:
Blocplay Entertainment Inc.
Tel: 416-361-1913
Email: investors.blocplay@gmail.com
Forward Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
