Besra Gold Announces: Receipt of Purported Notice under S143 of CBCA

Rhea-AI Summary

Besra Gold (OTC:BESAF) says it received a second notice purporting to be under Section 143 of the Canada Business Corporations Act on 2 March 2026 from Mr. Ron Mehmet, adding proposed board-composition resolutions to an earlier purported notice dated 15 January 2026.

The company announced a Special General Meeting set for 19 May 2026 at 9:00 a.m. AWST, is reviewing both notices, has sought legal advice on their validity, and says it will convene a meeting if the notices are determined valid, acknowledging considerable cost to the company.

Positive

• Special General Meeting scheduled for 19 May 2026
• Company has sought legal advice to assess notice validity

Negative

• Second purported S143 notice seeks board composition changes
• Potential obligation to convene SGM at considerable cost
• Uncertainty over validity of notices creates shareholder governance risk

Perth, Western Australia--(Newsfile Corp. - March 3, 2026) - Besra Gold Inc (ASX: BEZ) (the Company) advises that it has received a second notice, which purports to have been given under Section 143 of the Canada Business Corporations Act (CBCA) (Purported S143 Notice), from Mr. Ron Mehmet, dated 2 March 2026.

As previously announced on 20 January 2026, the Company received by email from Mr Ron Mehmet a notice dated 15 January 2026 purporting to requisition a resolution with reference to the Gold Purchase Agreement ('GPA') between the Company and Quantum Metal Recovery Inc ('QMRI'), dated 8 May 2023. The Company announced on 6 February 2026 a Special General Meeting to be held at 9:00 a.m. Australian Western Standard Time on Tuesday, 19 May 2026.

The Purported S143 Notice dated 2 March 2026 includes proposed resolutions concerning changes to the Board composition, in addition to the matters set out in the purported request dated 15 January 2026.

The Company is currently reviewing both the Purported S143 Notice dated 15 January 2026 and the Purported S143 Notice dated 2 March 2026 and has sought legal advice as to their validity and compliance with the requirements under the CBCA.

To the extent that the Purported S143 Notice is determined to be valid, the Company will comply with its obligation to convene a special general meeting at considerable cost to the Company.

This announcement has been authorised for release by the Board of Directors

For more information, please contact:

Investors: John Blake Non-Executive Chairman info@besra.com

Media: Nicholas Read / Kate Bell Read Corporate info@readcorporate.com.au

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286184

FAQ

What did Besra Gold (BESAF) announce about the Section 143 notices on March 3, 2026?

Besra Gold said it received a second purported Section 143 notice dated 2 March 2026. According to the company, the second notice adds proposed board-composition resolutions to an earlier purported requisition dated 15 January 2026 and is under legal review.

When will Besra Gold (BESAF) hold the Special General Meeting related to the S143 notices?

The Special General Meeting is scheduled for 9:00 a.m. AWST on 19 May 2026. According to the company, the meeting was announced on 6 February 2026 and may proceed if the notices are validated.

What actions is Besra Gold (BESAF) taking after receiving the purported S143 notices?

Besra Gold is reviewing both purported notices and has sought legal advice on their validity. According to the company, it will comply and convene a meeting if the notices are determined valid, noting associated costs.

Do the purported S143 notices affect the Gold Purchase Agreement involving Besra Gold (BESAF)?

The notices reference the Gold Purchase Agreement dated 8 May 2023 with Quantum Metal Recovery Inc. According to the company, earlier requisitions included resolutions with reference to that agreement, now under review alongside new proposals.

What shareholder governance risk does the March 3, 2026 Besra Gold (BESAF) notice create?

The second purported S143 notice proposes board-composition changes, introducing governance uncertainty. According to the company, the validity of the notices is being legally assessed, creating short-term shareholder uncertainty and potential meeting costs.