Echo Energy files counterclaim against former CEO

2009-05-06 16:54 ET - News Release

Mr. Charles Edey reports

ECHO ENERGY CANADA INC. LITIGATION WITH FORMER PRESIDENT AND DIRECTOR GARY CONN

Echo Energy Canada Inc. has commenced legal proceedings against its former president and chief executive officer, Gary Conn, and his private corporation. Echo Energy claims damages of $35-million.

Echo Energy filed its action today in the Ontario Superior Court of Justice as a counterclaim to an action commenced by Mr. Conn and his private corporation against Echo Energy for $500,000 damages for breach of contract and wrongful dismissal.

Mr. Conn was suspended on Dec. 2, 2008, and commenced his action on Feb. 24, 2009.

Echo Energy's counterclaim is based on allegations of tort and breach of contract in relation to Mr. Conn's activities as a former officer and director of the company.