MONTREAL,
Nov. 15, 2013 /CNW/ - Mason
Graphite Inc. ("Mason Graphite" or the "Company") (TSXV: LLG)
(OTCQX: MGPHF) announces that its Board of Directors has approved
an amendment to the Company's by-laws to include an advance notice
policy (the "Policy"), which requires advance notice to the Company
in circumstances where nominations of persons for election to the
Board of Directors are made by shareholders of the Company other
than pursuant to: (i) a requisition of a meeting made pursuant to
the provisions of the Business Corporations Act
(Ontario) (the "Act"), or (ii) a
shareholder proposal made pursuant to the provisions of the
Act.
Among other things, the Policy fixes a deadline
by which holders of record of common shares of the Company must
submit director nominations to the Company prior to any annual or
special meeting of shareholders and sets forth the information that
a shareholder must include in the notice to the Company for the
notice to be in proper written form.
In the case of an annual meeting of
shareholders, notice to the Company must be made not less than 30
nor more than 65 days prior to the date of the annual meeting;
provided, however, that in the event that the annual meeting is to
be held on a date that is less than 50 days after the date on which
the first public announcement of the date of the annual meeting was
made, notice may be made no 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 meeting), 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.
The Policy is intended to:
- facilitate an orderly and efficient annual general or special
meeting process;
- ensure that all shareholders receive adequate notice of the
director nominations and sufficient information regarding all
director nominees; and
- allow shareholders to register an informed vote after having
been afforded reasonable time for appropriate deliberation.
The Policy is effective immediately and will be
placed before Mason Graphite's shareholders for approval at the
next annual general meeting scheduled to be held on December 11, 2013.
The full text of the Policy is available via
SEDAR at www.sedar.com.
About Mason Graphite
Mason Graphite is a Canadian mining company
focused on the exploration and development of its 100% owned Lac
Guéret graphite property, which is located in northeastern Québec
near the main service center of Baie-Comeau. The Lac Guéret property currently
hosts a National Instrument 43-101 compliant Mineral Resource (see
news release issued on July 16,
2012), based only on 17% of the known mineralized zone.
Excellent potential exists for mineral growth. The Company has also
completed a Preliminary Economic Assessment study which features 22
years of production at 27.4% Cg and a pre-tax internal rate of
return of 33.7% (see technical report issued by the Company on
June 6, 2013). The Company's senior
management team possesses significant graphite expertise from their
experience at Timcal/Imerys; including Benoit Gascon, CPA, CA, who held executive
positions for 20 years, including over 6 years as President and
CEO; Jean L'Heureux, Eng., Executive Vice-President, Process
Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, Chief Financial Officer
and Executive Vice-President, with 8 years of experience. Timcal,
now owned by Imerys, is one of the largest graphite producers in
the world.
For more information about Mason Graphite, visit
www.masongraphite.com or contact info@masongraphite.com.
Qualified Person
Jean L'Heureux, Eng., Mason Graphite's Executive
Vice-President of Process Development and a Qualified Person as
defined by National Instrument 43-101, has reviewed and approved
the scientific and technical content of this press release.
Stay Connected: Twitter: @MasonGraphite
Facebook: /MasonGraphite
On behalf of Mason Graphite Inc.:
Benoît Gascon, President & CEO
Cautionary Statements Regarding Forward Looking
Information
This press release contains "forward-looking
information" within the meaning of Canadian securities legislation.
All information contained herein that is not clearly historical in
nature may constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i)
volatile stock price; (ii) the general global markets and economic
conditions; (iii) the possibility of write-downs and impairments;
(iv) the risk associated with exploration, development and
operations of mineral deposits; (v) the risk associated with
establishing title to mineral properties and assets; (vi) the risks
associated with entering into joint ventures; (vii) fluctuations in
commodity prices; (viii) the risks associated with uninsurable
risks arising during the course of exploration, development and
production; (ix) competition faced by the resulting issuer in
securing experienced personnel and financing; * access to adequate
infrastructure to support mining, processing, development and
exploration activities; (xi) the risks associated with changes in
the mining regulatory regime governing the resulting issuer; (xii)
the risks associated with the various environmental regulations the
resulting issuer is subject to; (xiii) risks related to regulatory
and permitting delays; (xiv) risks related to potential conflicts
of interest; (xv) the reliance on key personnel; (xvi) liquidity
risks; (xvii) the risk of potential dilution through the issue of
common shares; (xviii) the Company does not anticipate declaring
dividends in the near term; (xix) the risk of litigation; and (xx)
risk management.
Forward-looking information is based on
assumptions management believes to be reasonable at the time such
statements are made, including but not limited to, continued
exploration activities, no material adverse change in metal prices,
exploration and development plans proceeding in accordance with
plans and such plans achieving their stated expected outcomes,
receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking
information. Such forward-looking information has been provided for
the purpose of assisting investors in understanding the Company's
business, operations and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking information.
Forward-looking information is made as of the date of this press
release, and the Company does not undertake to update such
forward-looking information except in accordance with applicable
securities laws.
Full technical details and notes for the
Preliminary Economic Assessment ("PEA") can be found in the
technical report entitled "NI 43-101 Technical Report on the
Preliminary Economic Assessment, Lac Guéret Graphite
Project, Quebec, Canada"
dated June 6, 2013 and effective April 22, 2013,
which is available under Mason Graphite's profile on
SEDAR at www.sedar.com and on Mason
Graphite's website at www.masongraphite.com.
A PEA is preliminary in nature and includes
Inferred Mineral Resources, which are considered too geologically
speculative to have mining and economic considerations applied to
them that would enable them to be categorized as mineral reserves.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. There is no certainty that
the reserves development, production, and economic forecasts on
which the PEA is based will be realized.
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 Mason Graphite Inc.