VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 10/23/13 — Boss Power Corp. (TSX VENTURE: BPU) („Boss Power“ or „the Company“) today announced that the current Board of Directors will not be standing for re-election at the Annual and Special Meeting of shareholders (the Meeting“).
The Board is proposing a new slate of five experienced nominees with relevant and solid qualifications. Boss urges shareholders to vote the YELLOW proxy today in support of Boss- nominees.
In a Management Information Circular and Letter to Shareholders that the Company has filed on SEDAR, at and is sending to shareholders, Boss outlines the qualifications of its director nominees. Boss also cautions shareholders against a group of four nominees proposed by Morning Star Resources Ltd., a company wholly-owned by dissident Anthony Beruschi. The Meeting materials and other support documents have been posted to Boss- website at .
„Boss is at a critical juncture and the stakes are high,“ said Ron Netolitzky, Chairman and Acting CEO of Boss Power. „The current Board is stepping aside to provide shareholders with a fresh team of independent nominees. Each of the Boss nominees has a strong track record and their qualifications are far superior to the weak team Beruschi is fielding.“
„Shareholders should be aware that Beruschi has a track record of unsatisfactory results as both an officer and a director of public companies,“ said Netolitzky. „Two of his nominees have no experience as directors of public companies. The other two have experience but they, like Beruschi, have generally failed to provide any sustained benefits to shareholders.“
Shareholders urged to read Meeting materials
Boss urges shareholders to read the Meeting materials, including the Letter to Shareholders, which summarizes the key issues, and the Management Information Circular, which provides additional details about the troubling track record of Beruschi and the unsuitability of his nominees to serve as Directors of Boss.
Shareholders should vote the YELLOW proxy well in advance of the voting deadline of 11 am (Vancouver time) on Tuesday, November 12, 2013. For assistance voting, shareholders should contact Boss- Proxy Solicitor, Laurel Hill Advisory Group, at 1-877-452-7184 (Toll-Free in North America) or Collect at 1-416-304-0211, or by email at .
The complete Letter to Shareholders from Boss Power follows:
Dear fellow shareholder,
Your careful attention and immediate action is required
At the forthcoming Annual and Special Meeting of shareholders you have an important decision to make. You are faced with a choice between:
The Boss nominees have solid qualifications:
Beruschi is fielding a weak and inexperienced slate:
BE WARNED – Beruschi and his nominees Raymond Roland and Kirk Shaw have a record of destroying value
Beruschi was President, CEO and a director of Vancouver-based Goldbank Mining Corp. and its predecessors for approximately 18 years until 2012. For most of this period, he worked closely with his associate and dissident nominee Raymond Roland, who was Goldbank-s CFO and also a director of Goldbank.
During Beruschi-s and Roland-s tenure at Goldbank:
Shares of Ultra Resources Corp., under dissident nominee Shaw-s leadership, lost 94% of their value.
Shares of Whistler Gold Exploration Inc., with Shaw and Roland on the board, lost 99.3% of their value.
BE WARNED – Beruschi-s interests are not aligned with yours
Beruschi is delaying the completion of a 2011 settlement with the Province of British Columbia involving the expropriation of Boss- Blizzard Claim.
The material terms of the settlement include a payment to Boss of $30 million plus taxable costs and disbursements in return for the surrender or transfer of the company-s claims, as well as certain claims owned by Beruschi that are not contiguous to Boss- Blizzard Claim.
Beruschi has not agreed to surrender his claims to the Province.
Beruschi-s withdrawals from Goldbank totaled millions of dollars. Don-t let him do the same to Boss
Please read our enclosed Management Information Circular to learn more about Boss- nominees and why Beruschi and his nominees are unsuitable and represent a danger to the future value of Boss and the interests of its shareholders.
Boss is at a critical juncture. The stakes are high but your choices are clear. Act now to protect your interest in Boss Power: Vote the YELLOW proxy today
Ron Netolitzky, Board Chairman and Acting CEO
Boss Power Corp.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts: Boss Power Corp. Tony Perri Investor Relations, Manager (604) 688-8115 (604) 669-2543 (FAX)
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