Toronto, May 16, 2017 - Bison Gold Resources Inc. (TSXV: BGE) (the "Company") announces that, further to its press release of February 28, 2017, the application commenced on or about February 17, 2017, in the Queen's Bench, Winnipeg Centre under Section 234 of the Corporations Act (Ontario) has been abandoned by the applicant. The application, commenced by a minority shareholder of the Company, alleged that the Company's decision to complete its non-brokered private placement, which closed in two tranches on November 21, 2016 and January 12, 2017, raising gross proceeds of $950,000, was oppressive to the shareholders of the Company. The applicant sought, amongst other relief, the removal of the incumbent directors and the CEO and CFO of the Company.
Management of the Company believed the application was without merit and that it was brought in the wrong jurisdiction. A motion was filed to strike out the application which was scheduled to be heard on April 28, 2017. Before the hearing date, the applicant agreed to abandon the application due to the lack of jurisdiction of the Manitoba Court. The court appearance was cancelled and on May 12, 2017, a Notice of Abandonment of the Application was filed by the applicant.
For further information, please contact:
Amir Mousavi, Chief Executive Officer Bison Gold Resources Inc. Tel: (647) 846-3339 www.bisongold.com
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Toronto, May 16, 2017 - Bison Gold Resources Inc. (TSXV: BGE) (the "Company") announces that, further to its press release of February 28, 2017, the application commenced on or about February 17, 2017, in the Queen's Bench, Winnipeg Centre under Section 234 of the Corporations Act (Ontario) has been abandoned by the applicant. The application, commenced by a minority shareholder of the Company, alleged that the Company's decision to complete its non-brokered private placement, which closed in two tranches on November 21, 2016 and January 12, 2017, raising gross proceeds of $950,000, was oppressive to the shareholders of the Company. The applicant sought, amongst other relief, the removal of the incumbent directors and the CEO and CFO of the Company.
