• DUG US subsidiary settles dispute with supplier over invoice
• Settlement amount of US$1.5 million, less than original court judgment
• Parties agree to not pursue further legal action

DUG Technology Ltd (ASX: DUG) has announced the settlement of legal proceedings between its subsidiary DownUnder GeoSolutions (America) LLC ('DUG US') and a supplier in the United States. The dispute was in relation to a disputed supplier invoice received under an energy management services agreement. Following a court judgment ordering DUG US to pay the supplier a total of c. US$2.1 million, the parties have now entered into a settlement and release agreement. Under the terms of the settlement, DUG US has agreed to pay the supplier a total of US$1.5 million as full and final settlement of all claims, including the counter-claim by DUG US. The parties have also agreed to not pursue any further legal action with respect to the matters relating to the dispute. The settlement does not constitute an admission of liability by either party.The remaining terms of the settlement and release agreement are confidential. DUG Technology has stated that this settlement resolves the legal proceedings between the parties.