WCB Resources Ltd. Announces Adoption of Advance Notice Policy
May 06 2014 - 11:35AM
Marketwired
WCB Resources Ltd. Announces Adoption of Advance Notice Policy
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2014) - WCB
Resources Ltd. (TSX-VENTURE:WCB) ("WCB") or the "Company")
announces the approval and adoption by its Board of Directors of an
advance notice policy (the "Policy"). The purpose of the Policy is
to provide shareholders, directors and management of the Company
with a clear framework for nominating directors of the Company. The
Company is committed to: (i) facilitating an orderly and efficient
annual general or, where the need arises, special meeting, process;
(ii) ensuring that all shareholders receive adequate notice of the
director nominations and sufficient information regarding all
director nominees; and (iii) allowing shareholders to register an
informed vote after having been afforded reasonable time for
appropriate deliberation. The Policy is intended to further these
objectives.
The 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. The Policy fixes a
deadline by which director nominations must be submitted to the
Company prior to any annual or special meeting of shareholders and
sets forth the 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 Policy.
In the case of an annual meeting of shareholders, notice to the
Company must be made not less than 30 days and not 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 not later than the close of business on the 10th day
following such public announcement.
In the case of a special meeting of shareholders called for the
purpose of electing directors (whether or not called for other
purposes), 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 effective as of May 6, 2014. Pursuant to the terms
of the Policy, the Company will seek shareholder ratification of
the Policy at its next annual general meeting of shareholders (the
"Meeting"). If the Policy is not confirmed at the Meeting, the
Policy will terminate and be of no further force and effect
following the termination of the Meeting.
The full text of the Policy is available under the Company's
profile at www.sedar.com and on the Company's website
(www.wcbresources.com).
About WCB
Resources
WCB is an aggressive minerals exploration and development
company that brings together a strong, interdisciplinary, and
proven management team with the ability to take a project from
discovery right through to operation.
WCB's strategy is to build shareholder value through
acquisition, exploration and development of copper gold projects.
This strategy is being developed by a synthesis of WCB's core
skills in project evaluation, structured acquisition, exploration
and project development and operations, areas where WCB directors
and executives have significant experience.
We believe that our capabilities and experience, combined with
an efficient corporate structure, provide tremendous potential
upside for investors. WCB is focussed on the exploration and
development of the Tier 1 Misima Island Project in Papua New
Guinea.
On behalf of the Board of Directors
Cameron Switzer, President and Chief Executive Officer
Certain information regarding the Company including
management's assessment of future plans and operations, may
constitute forward-looking statements under applicable securities
laws and necessarily involve risks associated with mining
exploration and development, volatility of prices, currency
fluctuations, imprecision of resource estimates, environmental and
permitting risks, access to labour and services, competition from
other companies and ability to access sufficient capital. As a
consequence, actual results may differ materially from those
anticipated in the forward-looking statements. A feasibility study
has not been completed and there is no certainty the disclosed
targets will be reached nor that the proposed operations will be
economically viable. The TSX Venture Exchange or its Regulation
Services Provider have not reviewed and do not accept
responsibility for the adequacy or accuracy of the contents of this
news release, which has been prepared by management. We seek safe
harbour.
WCB Resources Ltd.Cameron Switzercswitzer@wcbresources.comWCB
Resources Ltd.Shaun
Maskerinesmaskerine@wcbresources.comwww.wcbresources.comInvestor
Relations:Ironstone Capital Corp.Lee Bowles416 941
1253lbowles@ironstonecapital.ca