Bison Gold Announces Ruling on AGM Litigation
TORONTO, ONTARIO--(Marketwire - Oct. 24, 2012) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) announced today that the Ontario Superior Court of Justice ruled on the application by Mr. Mousavi regarding the decision of the Chair at the Bison AGM. At the AGM, the Chair disallowed certain proxies to be voted that appointed Mr. Mousavi as a proxy holder.
The Court found that Mr. Mousavi would normally not be able to vote the disputed proxies in the way that Mr. Mousavi intended to do at the AGM. In these circumstances, the decision of the Chair to disallow the proxy's voted by Mr. Mousavi was correct. However, for other reasons, the Court held that Mr. Mousavi had the ability to vote the disallowed proxies.
The Company has been advised that the ruling of the Court should be appealed, and is considering the merits of an appeal. The Company has 30 days to appeal the decision of the Court.
About Bison Gold
Bison Gold is a Canadian public company listed on the TSX Venture Exchange. Bison Gold is focused on gold exploration with property assets in Manitoba, Canada. The flagship property, Central Manitoba, is historically the 2nd largest gold producer in the prolific Rice Lake Greenstone Belt after San Gold Corp.'s Rice Lake Mining Operations. Further details can be found on Bison Gold's website at www.bisongold.com.
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Bison Gold Resources Inc.