Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
TORONTO, July 4, 2012 /CNW/ – Bison Gold Resources Inc. (“Bison Gold”) (TSX Venture: BGE) former Director, Chief Financial Officer and Vice President Corporate Development, Mr. Amir Mousavi has filed a Notice of Application with the commercial court branch of the Ontario Superior Court of Justice to confirm the election of the Dissident Slate of Directors.
On June 26, 2012, at the Annual and Special Meeting of Shareholders, the Chair of the meeting, a member of the incumbent board, disallowed all but approx. 1.3 million shares voted pursuant to a completed dissident proxy posted on SEDAR, on June 18th, 2012, claiming that shareholders were ‘confused’ as to who they were voting for. In total 27,551,241 proxies were voted in favour of the Dissident directors. Only 22,448,821 proxies had been voted in favour of the Management nominees.
In addition to Mr. Mousavi, the Dissidents’ nominees include David Benson, Dale Dunlop, Remo DiFronzo and Chris Berlet. “We intend to have the Court confirm the votes validly cast in favour of our nominees”, said Mr. Mousavi. “There was no justification for the incumbent board to disallow the votes of the majority of the shareholders who voted at the meeting”.
Mr. Mousavi led the Dissidents after the incumbent board failed to address concerns raised about lack of leadership and excessive CEO compensation, travel and entertainment expenses. Details are contained in the Dissidents’ Circular, posted on SEDAR.
The Application is scheduled for a first appearance at the Commercial Court in Toronto on July 6, 2012.
