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August 11, 1987

CORVUS SYSTEMS SETTLES DIFFERENCES WITH UNION BANCORP

By CBR Staff Writer

Corvus Systems Inc has settled its differences with Union Bancorp over money owed the bank by its 50%-owned affiliate KSI Disc Products, which is in Chapter XI bankruptcy protection: the bank tried to attach Corvus assets to meet the debt, but has now agreed to accept $600,000 in cash to be paid over six months, Corvus’ interest in KSI, and warrants for 250,000 Corvus shares exercisable at $1 apiece.

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