Sept 25 (Reuters) - Indoor Skydive Australia Group Ltd (IDZ) :
- ANNOUNCES RESOLUTION OF DISPUTE WITH SKYVENTURE
- TO SETTLE DISPUTE, ISA GROUP AND ITS AFFILIATES WILL PAY SKYVENTURE $3.8 MILLION
- INDOOR SKYDIVE - ISA GROUP WILL END USE OF AIRRIDER BRAND, CEASE ANY ACTIVITIES AS A FRANCHISOR OR LICENSOR OF WIND TUNNEL TECHNOLOGY TO THIRD PARTIES
- SKYVENTURE HAS AGREED TO PROVIDE A LOAN WHICH FULLY FUNDS SETTLEMENT PAYMENT
- ISA GROUP WILL PAY ALL LEGAL FEES INCURRED BY SKYVENTURE IN MATTER.
- INDOOR SKYDIVE AUSTRALIA GROUP - REACHED DEAL FOR RESOLUTION OF DISAGREEMENTS WITH SKYVENTURE INTERNATIONAL REGARDING MEANING AND VALIDITY OF PLAS
- INDOOR SKYDIVE- SKYVENTURE CONTINUES TO LICENSE INTELLECTUAL PROPERTY, KNOW-HOW TO ISAG AFFILIATES FOR USE IN ISA GROUP'S INDOOR SKYDIVING FACILITIES
