VAL-D'OR, QC, May 10, 2019 /CNW/ - Bonterra Resources
Inc. (TSX-V: BTR, OTCQX: BONXF, FSE:
9BR1) ("Bonterra" or the "Company") reports
it has become aware that a notice of claim has been filed with the
Supreme Court of British Columbia,
by three consultants seeking payments in the aggregate amount of
$246,000 in connection with their
consulting agreements entered into in February 2017 and March
2017.
Pursuant to the notice of claim: i) Mr. Meagher, together with
Meagher Consulting Inc., is seeking $90,000, representing the termination fee payable
in connection with his management consulting agreement. The
Company received his invoice on May 6,
2019, and as this amount was never in dispute, payment was
promptly made; ii) Mr. Verdejo, together with 0910978 B.C. Ltd., is seeking $66,000, representing the termination fee payable
under his consulting agreement for marketing, financing and
corporate development services. His invoice was received on
May 8, 2019, and as this amount was
never in dispute, full payment was promptly made; and, iii) Ms.
Cesarone, together with Athena Ventures Inc., is claiming
$90,000 in connection with her
consulting agreement for corporate secretarial services. However,
this claim is without merit as Ms. Cesarone chose to
resign.
Greg Gibson, Director and interim
Chief Executive Officer stated: "We take our obligations very
seriously and value the people who are and have contributed in
building this Company. However, we will contest wrongful
claims and will not be deterred by concerted efforts to pressure
the Company. More importantly, the development of Bonterra's
three main projects in the Urban Barry Camp (please see the
corporate update dated May 1, 2019)
and the expansion of the mill to allow for multiple feed sources
and to triple its output capacity is moving along nicely. The
overall resource calculation is on track and is expected to be
completed this month. Shareholders will be kept informed of all
corporate
developments."
As announced on April 16, 2019,
Navjit Dhaliwal, the former Chief
Executive Officer and Director of the Company and, Richard Dale Ginn, the former Vice-President,
Exploration and Director of the Company, have jointly filed a
notice of claim seeking payments of $1,092,000 each, alleging a contractual breach
and unjust enrichment by the Company, in connection with their
resignation from their executive positions in February 2018.
The Company considers these claims to be unfounded and is
contesting them.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary and Forward-Looking Statements
This press release contains "forward-looking information"
that is based on Bonterra's current expectations, estimates,
forecasts and projections. The words "will", "anticipated", "plans"
or other similar words and phrases are intended to identify
forward-looking information. This forward-looking
information includes namely, information with respect to the legal
proceedings and Bonterra's successful contest thereof.
Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause
Bonterra's actual achievements to be materially different from
those expressed or implied by such forward-looking information.
Such factors include but are not limited to uncertainties of the
outcome of legal proceedings. This list is not exhaustive of the
factors that may affect our forward-looking information. These and
other factors should be considered carefully, and readers should
not place undue reliance on such forward-looking information.
Bonterra disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new
information, future events or otherwise.
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SOURCE Bonterra Resources Inc.