SETTLEMENT OF LAWSUITS AGAINST GUNNAR RYAN WIIK AND SISSEL WIIK
WR Entertainment ASA ("WR ASA" or the "Company") and WR Films Entertainment Group Inc. ("WR Inc.") (together "WR") are pleased to announce that WR and Tasmin Lucia-Khan have entered into a settlement agreement with Gunnar Ryan Wiik and Sissel Wiik resolving the parties' respective lawsuits. As a consequence, the parties will dismiss their lawsuits filed in the Superior Court for the State of California for the County of Los Angeles under Case Nos. BC665628 (WR INC. v. Gunnar Ryan Wiik) and BC654113 (Gunnar Ryan Wiik v. Tasmin Lucia-Khan), and will also dismiss the pending action in Norway.
As part of the settlement, Gunnar Ryan Wiik has returned all of his 18,774,525 shares in WR ASA to WR ASA.
Further, WR Inc. has repaid USD $200,000 of the USD $238,221 loan (including accrued interests) from Sissel Wiik dated 15 January 2014.
All other liabilities and loan agreements by, between, or among the parties have been terminated and released, including but not limited to the USD $241,761 loan (including accrued interests) from Gunnar Ryan Wiik.
As part of the settlement, the parties have agreed to cover their own legal costs related to the disputes.
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February 13, 2018
WR Entertainment ASA