Montello Resources Ltd MLORF

Montello director Petke receives resignation request

[happygal17]

Montello Resources Ltd (C:MEO)
Shares Issued 199,325,406
Tuesday January 28 2014 - News Release

Mr. Dennis Petke reports

DIRECTOR UPDATES SHAREHOLDERS

Montello Resources Ltd. is providing this news release to bring shareholders up to date on the company's corporate matters.

On Jan. 28, 2014, director Dennis Petke informed the B.C. Securities Commission and the TSX Venture Exchange about the following events:

 

• On Jan. 27, 2014, Mr. Petke received a letter dated Jan. 13, 2014, from Peter Brown, the chairman and chief executive officer of the company, on behalf of the remaining members of the board, requesting that he resign as a director of the company by Jan. 31, 2014.
• On Jan. 27, 2014, he received another letter from Mr. Brown dated Jan. 13, 2014, whereby Mr. Brown and the remaining board attempted to remove Mr. Petke as the chief financial officer of the company.
• At the end of July, 2013, immediately upon discovering material transactions that had not been disclosed to Mr. Petke, he began to gather information from various sources in relation to these transactions.
• In August, 2013, Mr. Petke formally brought to the board's attention his discoveries, as well as certain material governance, internal control, disclosure and compliance issues.
• Since then, Mr. Petke has been continuously seeking co-operation from the remaining members of the board to make full disclosure to the B.C. Securities Commission and the TSX Venture Exchange. Despite his repeated requests, as of today, Mr. Petke has not received sufficient information to clarify the material transactions to fulfill the proper disclosure requirements.
• It is his concern that the remaining board's attempt to remove him as the chief financial officer and a director is going to further delay the board's full and timely disclosure.

 

We seek Safe Harbor.