VICTORIA, Dec. 19, 2016 /CNW/ - Emerald Health
Therapeutics Inc. (TSXV: EMH) ("Emerald" or the "Company")
announces the adoption by its board of directors of an advance
notice policy (the "Advance Notice Policy") regarding
director elections.
The purpose of the Advance Notice Policy is to provide a clear
process for the shareholders, directors and management to follow
when nominating directors of the Company. Such a policy will
ensure that shareholders receive adequate notice of director
nominations and sufficient information regarding all director
nominees and to allow shareholders to register an informed vote
after having been afforded reasonable time for appropriate
deliberation.
The Advance Notice Policy, among other things, includes a
provision that requires advance notice to the Company in certain
circumstances where nominations of persons for election to the
board of directors are made by shareholders of the Company. This
Advance Notice Policy also sets a deadline by which director
nominations must be submitted to the Company prior to any annual
general or special meeting of the shareholders and also sets out
the required information that must be included in the notice to the
Company. No person will be eligible for election as a director of
the Company unless nominated in accordance with the Advance Notice
Policy.
In the case of an annual general meeting of the shareholders,
notice to the Company must be made not less than 35 days and not
more than 65 days prior to the date of the annual general
meeting. If the annual general meeting is being held on a
date that is less than 50 days following the date on which the
first public announcement of the meeting was made, notice may be
made not later than the close of business on the 10th day following
such public announcement.
In the case of a special meeting of shareholders (which is not
also an annual general meeting) called for the purpose of electing
directors, notice to the Company must be made not later than the
close of business on the 15th day following the day on which the
first public announcement of the date of the special meeting was
made. Notwithstanding the foregoing, the board of directors may, in
its sole discretion, waive any requirement of the Advance Notice
Policy.
The Advance Notice Policy is now in effect and will apply in
connection with the Company's next annual general meeting (the
"Shareholders' Meeting"). The Company intends to seek
shareholder approval and ratification of the Advance Notice Policy
at the Shareholders' Meeting. If the Advance Notice Policy is not
ratified by ordinary resolution of the Company's shareholders at
the Shareholders' Meeting, then it will terminate and be void and
of no further force or effect following the termination of the
Shareholders' Meeting.
A full description of the Advance Notice Policy will be
contained in the information circular to be prepared for the
Shareholders' Meeting and mailed to the Company's shareholders. A
copy of the Advance Notice Policy is available on SEDAR under the
Company's profile at www.sedar.com
ON BEHALF OF THE BOARD
Jim Heppell
Lead Director
Emerald Health Therapeutics Inc.
Emerald Health Therapeutics wholly owns Emerald Health
Botanicals, which has been granted licenses under the Access to
Cannabis for Medical Purposes Regulations to cultivate and sell
medical cannabis, and to produce and sell medical cannabis oils in
Canada.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Emerald Health Therapeutics, Inc.