Cell Aquaculture, Excalibur settle legal action

Fremantle-based Cell Aquaculture Ltd and South Perth-based Excalibur Mining Corporation Ltd have settled Supreme Court proceedings between the two, the companies announced today.

Cell had launched the action against Excalibur in June last year, demanding payment of $500,000 in relation to cash Cell alleged were advanced to Excalibur in or around July 2005, a charge Excalibur denied.

Shares in Cell closed at flat at 17 cents, while Excalibur rose 7.7 per cent to close at 2.8 cents.