Regulus Announces Adoption of Advance Notice By-Law
March 21 2014 - 11:59AM
Marketwired
Regulus Announces Adoption of Advance Notice By-Law
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 21, 2014) -
Regulus Resources Inc. ("Regulus" or the "Company"),
(TSX-VENTURE:REG) is pleased to announce that the board of
directors (the "Board") of Regulus has adopted an advance notice
by-law (the "Advance Notice By-law"). The Advance Notice By-law
sets forth provisions requiring advance notice to the Company in
circumstances where nominations of persons for election to the
Board are made by shareholders of the Company other than pursuant
to: (i) a "proposal" made in accordance with section 136(1) of the
Business Corporations Act (Alberta) (the "Act"); or (ii)
or a requisition of the shareholders made in accordance with
section 142(1) of the Act. More specifically, the Advance Notice
By-law fixes a deadline by which holders of record of common shares
of Regulus must submit director nominations to the Chief Executive
Officer of the Company prior to any annual or special meeting of
shareholders and sets forth the specific information that a
shareholder must include in the written notice to the Chief
Executive Officer of the Company for an effective nomination to
occur. No person will be eligible for election as a director of the
Company unless nominated in accordance with the provisions of the
Advance Notice By-law.
In the case of an annual general meeting of shareholders, notice
to the Chief Executive Officer of the Company must be made not less
than 30 nor more than 65 days prior to the date of the annual
general meeting of shareholders; provided, however, that in the
event that the annual general meeting of shareholders is to be held
on a date that is less than 50 days after the date (the "Notice
Date") on which the first public announcement of the date of the
annual meeting was made, notice by the nominating shareholder may
be made not later than the close of business on the tenth (10th)
day following the Notice Date.
In the case of a special meeting (which is not also an annual
general meeting) of shareholders called for the purpose of electing
directors (whether or not called for other purposes), notice to the
Chief Executive Officer of the Company must be made not later than
the close of business on the fifteenth (15th) day following the day
on which the first public announcement of the date of the special
meeting of shareholders was made.
The Advance Notice By-law is now effective and in full force and
effect. The Advance Notice By-law will be put to shareholders of
the Company for approval at its upcoming annual general and special
meeting of shareholders scheduled for April 17, 2014. If the
Advance Notice By-law is not confirmed at the meeting by ordinary
resolution of shareholders, the Advance Notice By-law will
terminate and be of no further force and effect following the
termination of the shareholders meeting.
The full text of the Advance Notice By-law is available via
SEDAR at www.sedar.com or upon request by contacting the Corporate
Secretary of the Company at (604) 681-4462 or by email at
megan.cameron-jones@regulusresources.com.
About Regulus Resources Inc.
Regulus Resources Inc. (TSX-VENTURE:REG) is a mineral
exploration company formed in December, 2010 in connection with the
sale of Antares Minerals Inc. to First Quantum Minerals Ltd..
Regulus has been exploring the Rio Grande Cu-Au-Ag porphyry project
in Salta Province of NW Argentina on a 50/50 joint-venture basis
with Pachamama Resources. In May 2012, the two companies merged
under the name Regulus Resources to consolidate a 100% interest in
the project.
Forward-Looking Information
This press release contains forward looking statements. More
particularly, this press release contains statements concerning the
anticipated date of the Company's annual general and special
shareholders meeting and the anticipated shareholder approval of
the Advance Notice By-law. Although Regulus believes that the
expectations reflected in these forward looking statements are
reasonable, undue reliance should not be placed on them because
Regulus can give no assurance that they will prove to be correct.
Since forward looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. The Company's annual general and special meeting may
be delayed. Shareholders may not approve the Advance Notice By-law.
Accordingly, there is a risk that the Advance Notice By-law will
only be in force for a brief period of time.
The forward looking statements contained in this press
release are made as of the date hereof and Regulus undertakes no
obligation to update publicly or revise any forward looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Regulus Resources Inc.John E. BlackPresident / CEO / Director+1
720 514-9036john.black@regulusresources.com
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