Morning Star Resources Ltd.

October 16, 2013 09:30 ET

Concerned Shareholder Announces Nominees for Election to the Boss Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 16, 2013) - Morning Star Resources Ltd. (the "Concerned Shareholder") has announced its slate of four nominees for election as directors of Boss Power Corp. at Boss's annual general meeting of shareholders to be held on November 14, 2013.

The Concerned Shareholder's nominees are Messers. John Skinner, Raymond Roland, Kirk Shaw and Ms. Kristal (Kris) Stewart. The nominees will not only add a wealth of experience and skill to the Boss board of directors, but also much needed independence.

Contrary to the self-serving fear mongering by Boss's board, the nominees are independent from the Concerned Shareholder and will exercise their independent business judgment for the benefit of all of Boss's shareholders. Importantly, the $30 million settlement will be in safe hands with the proposed new board. The incumbent board continues to risk losing Boss's $30 million settlement. All of Boss's shareholders are harmed by their continuing failure to close the settlement, which is at risk of being set aside. Unlike the incumbent board, the Concerned Shareholder's nominees have no conflicts of interest. They have the skills, experience, wisdom and independent judgment to close the settlement for the benefit of all of Boss's shareholders. The nominees will not be hidebound to perpetuate the mistakes and failures of the incumbent board, which continues to blame the Concerned Shareholder in an effort to distract shareholders from its failures, wrongful acts and conflicts of interest. It is clear that the incumbent board has no plan and no prospects of closing the $30 million settlement for the benefit of Boss and its minority shareholders, and the $30 million settlement may be lost.

Mr. Anthony Beruschi, the president of the Concerned Shareholder, stated: "I will work with the proposed talented new directors and firmly believe that we will be able to correct the past mistakes of management and quickly close the $30 million settlement for the benefit of all of Boss's shareholders. I am still offering to deliver the B claims to the Province to allow the $30 million settlement to close, if a majority of the current board resigns and is replaced by the independent, qualified directors being nominated by the Concerned Shareholder and not motivated by conflicts of interest and concerns for personal liability."

Shareholder Nominees

The Concerned Shareholder's nominees bring extensive experience in the fields of investment financing, business, banking and mining. A brief biography of each nominee is set forth below:

John Skinner. Mr. Skinner brings his outstanding knowledge, experience, success and wisdom achieved throughout his years as a successful investment representative in the mining business in Canada for the benefit of Boss's shareholders. Mr. Skinner has been at the forefront in financing many successful companies. As a senior investment advisor at Yorkton Securities and later with Canaccord Capital, recognized as the mining industry's venture capital leaders, Mr. Skinner played an integral role in the investment banking groups that financed companies involved with substantial successful worldwide mining exploration and development. Mr. Skinner is uniquely positioned with his intimate industry contacts and relationships and select experience and wisdom to be a catalyst in moving Boss from closing the $30 million settlement through building shareholder value in a market full of excellent opportunities. Mr. Skinner has special knowledge of Boss, having been involved in Boss's 2007 financing with his clients where he acquired 133,333 Boss shares at $0.75 that he still holds today. Mr. Skinner has informed himself of the challenges facing Boss in closing the $30 million settlement for the benefit of all Boss shareholders. In 2009, at age 50, Mr. Skinner retired as an investment advisor to manage his personal investment portfolio and to establish the award winning Painted Rock Winery in the Okanagan, British Columba. Painted Rock was recently named the "2013 B.C. Winery of the Year" at the 2013 InterVin International Wine Awards.

Ray Roland, B.Comm. A lifelong banker, Mr. Roland retired as the Head of Financial Institution Banking, Western Canada, for the Royal Bank of Canada where his duties included being the banker for those brokerage firms that banked with the Royal Bank in Western Canada. Mr. Roland's interest and investments in publicly traded exploration companies and his in-depth industry specific banking knowledge led him to a career as a Financial Consultant and Venture Capitalist for junior mining companies, including positions as director and officer of a number of exploration companies. Mr. Roland has intimate knowledge of the B claims and British Columbia uranium matters through his former directorship and presidency of Ultra Uranium Corp. - a company that negotiated for and agreed to acquire an interest in the B claims immediately prior to the British Columbia Government's ban on uranium exploration in 2008, and of which Mr. Doug Brooks was also a director. Mr. Roland has been a long time investor in Boss and has familiarized himself with the issues the board must resolve as it seeks to close its outstanding $30 million settlement.

Kirk Shaw. Mr. Shaw has extensive experience with public company disclosure requirements, tax law and business development. Mr. Shaw is currently the head of Odyssey Media Inc. With offices in Vancouver, Los Angeles and Brisbane, Mr. Shaw actively finances and produces multimillion dollar movies with stars such as John Cusack and Sharon Stone. Mr. Shaw's past work in the entertainment industry includes the academy award winning The Hurt Locker as well as leading Canada's largest independent film and television production company where he produced, financed and delivered over 165 movies, series and documentaries (with aggregate revenue exceeding $600 million) to clients such as Sony and NBC Universal. In addition to the entertainment industry, Mr. Shaw is an active director, officer and investor in exploration companies listed on Canadian stock exchanges. As a director of Ultra Uranium Corp., Mr. Shaw negotiated an agreement to acquire the B claims immediately prior to the B.C. Government's ban on exploration in 2008, affording him intimate knowledge of the B claim dispute between Boss and Mr. Beruschi. With 30 years of public and private corporate finance and operations experience, Mr. Shaw maintains a well-honed business acumen that allows him to identify and capitalize early on new opportunities and emerging trends.

Kristal (Kris) Stewart, RN, BScN, MBA. A resident of Kelowna and candidate for the Liberal Party of Canada in the last federal election, Ms. Stewart is an independent, qualified, determined professional. Ms. Stewart is the clinical director and CEO of Advanced Home Care Solutions, a private company responsible for providing in home care for the elderly in the Okanagan. Ms. Stewart is a Registered Nurse, holds an MBA from Athabasca University and is a past director of the Kelowna Chamber of Commerce.

Additional Information on the backgrounds of the Concerned Shareholder's proposed director nominees, as well as detailed reasons to support the Concerned Shareholder's position, will be more fully described in a detailed information circular to be mailed to shareholders and filed on SEDAR in due course in advance of the November 14, 2013 shareholders' meeting.

Contact Information