VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/07/13 -- Thomas Clarke (the "Concerned Shareholder"), has prepared a Dissident Proxy Circular proposing a Replacement Board of Directors (the "Dissidents") for BonTerra Resources Inc (the "Company" or "BonTerra"). He is soliciting Proxies to be voted at the Annual General Meeting ("AGM") of the Company to be held on January 14, 2013 at 10:00am at Suite 700-595 Burrard Street, Vancouver, British Columbia.
Together with other concerned shareholders the Concerned Shareholder has obtained the Proxy for 5.47% or 4,847,294 of the issued and outstanding common shares of Company. SHAREHOLDERS WISHING TO VOTE IN FAVOR OF THE DISSIDENT BOARD OF DIRECTORS AND WHO OWNED SECURITIES OF BONTERRA AS OF MARKET CLOSE ON DECEMBER 10, 2012 ("SHAREHOLDERS") MAY DOWNLOAD THE DISSIDENT CIRCULAR AND FORM OF GREEN PROXY AT: http://shareholdermeeting.twillar.com.
SHAREHOLDERS MAY COMPLETE THIS FORM OF GREEN PROXY AND RETURN THEIR GREEN PROXIES TO THE CONCERNED SHAREHOLDER NO LATER THAN 5:00PM (VANCOUVER TIME) ON WEDNESDAY JANUARY 9, 2013 IN ORDER TO BE DEPOSITED WITH THE COMPANY'S TRANSFER AGENT AND BE VOTED AT THE AGM.
The Concerned Shareholder proposes to replace the current Directors of BonTerra except Mr. Robert Bryce should he wish to continue his service to the Company. The Concerned Shareholder proposes a new, highly educated, qualified and experienced Board of Directors (the "Dissident Directors") whose objectives will be to enhance shareholder value through the development of the Company's assets the resumption of exploration activities and improvement the corporate governance of the Company.
The Dissident Directors are as follows:
-- Thomas Clarke, Pr.Sci.Nat., MSc, BSc (Hons.), BSc (Director, President & Geologist)-- Bryan Loree, CMA, BA (Director, Chief Financial Officer & Corporate Secretary)-- Kevin Brewer, P.Geo., MBA, BSc (Hons.) (Independent Director & Geologist)-- Jose Perez, B.Com. (Independent Director & Corporate Development)
Each of Messrs. Clarke, Loree, Brewer & Perez has consented to act as a Director of BonTerra.
The concerned shareholders, after reviewing the management information circular (the "Management Circular") have lost confidence in the current Board of Directors and management of BonTerra.
There has been a dramatic increase in the compensation paid to Officers of the Corporation while BonTerra's stock price has collapsed nearly 80% between December 31, 2011 and December 31, 2012.
During 2011 the Corporation has raised a total of $1,852,199 in two financings as disclosed on www.sedar.com. Little if any of these funds seem to have been invested in exploration. An announced Private Placement has not been completed. This might be detrimental to the Corporation.
During the year major changes have been made to the Board of BonTerra which appear to represent a significant change of corporate culture and a move away from focusing efforts on creating shareholder value by not actively working the Company's Quebec gold Properties (the "Properties").
The Concerned Shareholder feels that in light of management's failure to practice prudence in tough market conditions, failure to advance the Company's Properties and unnecessary dilution of BonTerra's share capital he is within his rights to publically file a Dissident Proxy Circular and solicit GREEN PROXIES in the support of the election of the proposed slate of Dissident Directors.