Wavefront Announces Annual and Special Meeting and Record Date, and Approval of Advance Notice By-Law
December 21 2012 - 4:07PM
OTC Markets
WAVEFRONT ANNOUNCES ANNUAL AND SPECIAL
MEETING
AND RECORD DATE, AND
APPROVAL OF ADVANCE NOTICE BY-LAW
EDMONTON,
Alta December 21, 2012 - Wavefront Technology Solutions Inc.
(“Wavefront” or the “Corporation”, TSX-V: WEE), a developer of
leading-edge technology for fluid injection optimization for
improved performance and profitability in the oil and gas and
environmental sectors announced today that it will hold an annual
and special meeting of shareholders (the “AGM”) on February 20,
2013. The record date for shareholders entitled to vote at
the AGM has been set at January 16, 2013. Wavefront is
also pleased to announce the approval by its board of directors
(the “Board of Directors”) of amendments to the Corporation’s
by-laws to include an advance notice provision that requires
advance notice to the Corporation in circumstances where
nominations of persons for election to the Board of Directors are
made by shareholders of the Corporation other than pursuant
to: (i) a requisition of a meeting made pursuant to the
provisions of the Canada Business Corporations Act,
RSC 1985, c C-44, as from time to time amended, (the “Act”), or
(ii) a shareholder proposal made pursuant to the provisions of the
Act.
Among other
things, the by-law amendment fixes a deadline by which shareholders
of the Corporation must submit director nominations to the
Corporation prior to any annual or special meeting of shareholders
and sets forth the information that a shareholder must include in
the notice to the Corporation for the notice to be in proper
written form.
In the case
of an annual meeting of shareholders, notice to the Corporation
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 called for the purpose of
electing directors, notice to the Corporation 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 amendment
to the Corporation’s by-laws to add the advance notice provision is
in full force and effect now and will be placed before shareholders
at the upcoming AGM of the shareholders of the Corporation for
confirmation of ongoing effectiveness. Any director
nominations for the AGM must follow the procedures in the advance
notice provision and must be received by the Corporation in
compliance with the amended bylaws no later than the close of
business on January 21, 2013.
The full text
of the advance notice provision which outlines the process and
information required in making director nominations is available
via SEDAR at www.sedar.com or upon request by contacting the Chief
Financial Officer of the Corporation at 780-486-2222 or by email at
investor.info@onthewavefront.com.
ON BEHALF OF
THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS
INC.
“D. Brad Paterson” (signed)
D. Brad Paterson, CFO & Director
About Wavefront:
“From Bit to Last Drop” Wavefront endeavors to be
recognized as a global leader of fluid injection
technologies that
maximize reservoir recovery, drilling efficiency,
and groundwater restoration. Wavefront publicly trades on
the TSX Venture Exchange under the symbol WEE and on the OTCQX
under the symbol WFTSF. The Company's website is www.onthewavefront.com.
For further information please contact:
Brett Davidson, President and CEO or D. Brad Paterson, CFO
at 780-486-2222 or write to us at
investor.info@onthewavefront.com
Cautionary Disclaimer – Forward Looking
Statement
Investors are encouraged to review “Risk Factors” as
outlined in Wavefront’s disclosure documents and other regulatory
filings, available on the SEDAR website at www.sedar.com. Wavefront
expressly disclaims any obligation to up-date any “forward-looking
statements”, other than as required by law.
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