ATTENTION ALL BRESEA SHAREHOLDERS AND SUPPORTERS OF THE BSR GROUP!!
On December 4th the Alberta Court of Appeals overturned the ruling of the Alberta Court of Queens Bench that Bresea Resources Ltd. be directed into Bankruptcy along with Bre-X. This means that under the Canada Business Corporations Act the Corporation can go ahead with following deal that had David Walsh and Steve McAnulty resigning and a new set of directors being elected.
"Friday 31 October 1997
The Canadian Press (Calgary Herald)
David Walsh will resign as president and chief executive officer of
Bre-X Minerals' parent company, Bresea Resources Ltd., as part of
deal that will see Bre-X file for bankruptcy, the Globe and Mail
reported Friday.
Under terms of the deal, Bre-X will go into bankruptcy next week
but Bresea will remain in limited operation. Walsh call a
shareholders meeting to elect a new board of directors. "
However, this development does not meet the BSR Group's objective of having all current directors replaced by respected, qualified and ethical individuals from the mining industry. It is, as yet, unclear who the Corporation will propose as a replacement set of Directors. We know you would not feel comfortable if they do not meet the criteria as outlined on our web site:
officetower.com
Fortunately, the BSR Group is in the final stages of recruiting and qualifying seven of the types of individuals we desire as nominees to the Board of Directors. At this time we have six committed, highly respected individuals who will work for the best interests of ALL shareholders.
This latest development means the BSR Group of Shareholders can STILL, with support from 5% of the existing shareholders, request a General Meeting and Nominate Dissident Directors. The sooner those of you who have already pledged your support fill out your formal (22-page) "Meeting Requisition Packages" the sooner we can cause this to occur. If you have not yet received or obtained your copy of this package please e-mail Rod Steel at rod.steel@officetower.com or fax your request to 1-503-968-6733.
Now, more than ever, we need to keep working to ensure that David Walsh doesn't put in some puppet regime. Let's not slack off! We still need a formal 5% to nominate our slate.
The BSR Group is only 500,000 shares short of the 5% required to safely guarantee that the meeting requisition will be valid. KEEP THOSE NEW PLEDGES AND COMPLETED PACKAGES ROLLING IN!
Thank you for all your support,
Don Clarke, Julius Diamond, Rod Steel
Executive Committee
BSR Group of Shareholders
We are really, really close, people ........ Feliz Navidad ....... marcos |
