Bonterra Resources Inc (CVE:BTR) (OTCMKTS:BONXF) announced Tuesday that it has received notification of a civil claim, filed by its former CEO and director, Navjit Dhaliwal, and its former VP of exploration and director, Richard Dale Ginn.
The company said each plaintiff is seeking payment of about C$1.1 milllion.
“This lawsuit is strictly an attempt to bully Bonterra," said Chairman Greg Gibson in a statement released by the company. "Guided by our duty to act in the best interest of the company and all shareholders, we will vigorously contest this claim and seek appropriate remedy for any damages caused to Bonterra by the plaintiffs’ actions."
Bonterra is a gold exploration company with assets in the Archean greenstone belts in the Canadian Shield. It controls three high-grade gold deposits named Gladiator, Barry and Moroy and also has significant regional targets.
Shares of Bonterra Resources were at C$1.75 on Tuesday.
Contact Katie Lewis at [email protected]