TORONTO, ONTARIO -- (Marketwired) -- 10/22/16 -- 1720548 Ontario Inc. and Allan Fredette (collectively, the "Concerned Shareholders"), being shareholders who collectively own approximately 7% of the outstanding common shares of Bison Gold Resources Inc. ("Bison") (TSX VENTURE: BGE), announced today that they have requisitioned (the "Requisition") the Bison board of directors to call a meeting of shareholders of Bison for the purpose of reconstituting Bison's board by removing 4 of the 5 incumbent directors and electing 4 new independent directors.
The Concerned Shareholders believe that Bison has an excellent asset, the potential of which can be unlocked with the right leadership and the right plan for change. The Concerned Shareholders have lost faith in Bison's existing management and board to effect this change and drive shareholder value. The Concerned Shareholders were particularly concerned about Bison's most recent decision to complete a very dilutive private placement financing without respecting a prior commitment to conduct a rights offering which would have better protected existing shareholder interests. In addition, the Concerned Shareholders also believe that there has been a failure to keep shareholders informed over the past year which has led to a weakened relationship between Bison and its shareholders during a trying market.
The Requisition proposes the removal of each of Amir Mousavi, Dale Dunlop, Chris Carmichael and Mark Robinson as directors of Bison and the election of Glen Collins, Wayne Guidolin, Hamid Mumin and Rob Rostecki to Bison's board. Once in place, the new board's immediate priorities will be to review the performance of the existing management team and establish an experienced board who can develop the full potential of Bison's assets while maximizing shareholder value.
The information contained in this press release does not and is not meant to constitute a solicitation of proxies within the meaning of applicable securities laws. Although the Concerned Shareholders have requisitioned a meeting, there is currently no record or meeting date set for such meeting and shareholders are not being asked at this time to execute a proxy in favour of the nominees of the Concerned Shareholders or any other resolution set forth in the Requisition.
Contacts:
If you have any questions or concerns please email:
bisondissidents@gmail.com
