Bison Gold Exploration Inc.
CNSX : BGE

Bison Gold Exploration Inc.

February 13, 2009 16:30 ET

Bison Gold Announces Shareholder Clarifications

TORONTO, ONTARIO--(Marketwire - Feb. 13, 2009) - Bison Gold Exploration Inc. (CNSX:BGE) ("Bison") announces certain clarifications regarding the acquisitions of and the current holdings of Bison by shareholder GC-Global Capital Corp. ("GC-Global").

GC-Global previously disclosed in an early warning report filed on SEDAR on August 15, 2007 that it had it acquired 2,080,000 common shares of Bison at a price of $0.11 per share. Upon completion of that acquisition, GC-Global then held 2,555,000 common shares of Bison (as opposed to 2,540,000 common shares mistakenly disclosed at that time). Following completion of this acquisition, GC-Global disposed of 1,500,000 common shares of Bison, resulting in net holdings of 1,055,000 common shares. In addition, as also reported at that time, GC-Global acquired a $250,000 principal amount convertible debenture (the "Debenture"). Following the complete conversion of the debenture into common shares and the exercise of all warrants issuable upon said conversion, GC-Global would own or control an aggregate of 4,805,000 common shares representing 18.3% of the issued and outstanding common shares at that time.

In November 2007, GC-Global, following completion of a private placement whereby it acquired 800,000 common shares at a price of $0.30 per share and 800,000 warrants exercisable at $0.35 for 2 years, held 1,855,000 common shares and 800,000 warrants of Bison. Following the complete conversion of the Debenture into common shares and the exercise of all warrants issuable upon said conversion, GC-Global would own or control an aggregate of 6,405,000 common shares representing 19.4% of the issued and outstanding common shares at that time.

Mr. Gordon Ewart, Chairman of GC-Global and owns or controls 15,500 common shares of Bison, Jason Ewart, CEO of GC-Global owns or controls 20,000 common shares of Bison, and Lucas Ewart, who owns 728,000 common shares and 300,000 options of Bison, may also be considered to be acting jointly or in concert with GC-Global. Following the complete conversion of the Debenture into common shares and the exercise of all warrants issuable upon said conversion, GC-Global, Gordon Ewart and Lucas Ewart will own or control an aggregate of 7,468,500 common shares representing 22.6% of the issued and outstanding common shares of Bison.

GC-Global stated that it acquired the common shares and the Debenture and special warrants of Bison for investment purposes and may acquire additional securities for this purpose from time to time or may sell all or part of its holdings at any time. The due date for the Debenture has been extended to June 30, 2009.

Bison Gold Exploration Inc. is a Canadian public company listed on the Canadian National Stock Exchange (formerly the CNQ). Bison Gold is focused on Gold Exploration with Property Assets in Canada. Further details can be found on Bison's website at www.bisongold.com.

This news release contains forward-looking statements regarding the timing and content of upcoming programs and may be subject to regulatory approval. Actual results may differ materially from those currently anticipated in such statements.

THE CNQ HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • Bison Gold Exploration Inc.
    Lucas Ewart
    President and CEO
    (416) 488-7760
    Website: www.bisongold.com