EPM Mining Adopts Advance Notice Provision to By-Laws
April 29, 2014 (Source: Marketwired) — EPM Mining Ventures Inc. (“EPM” or the “Company”) (TSX VENTURE:EPK)(OTCQX:EPKMF) is pleased to announce that it will hold its annual and special meeting (the “Meeting”) of shareholders at 4:30 p.m. (Toronto time) on June 23, 2014. The Company has fixed May 23, 2014 as the record date for determining shareholders entitled to vote at the Meeting.
The Company is also pleased to announce that its board of directors (the “Board”) has approved amendments to the Company’s by-laws to include an advance notice provision (the “Provision”) which requires 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) the requisition of a meeting, or (ii) a shareholder proposal, both made pursuant to the provisions of the Business Corporations Act (Yukon) (the “Act”).
Among other things, the Provision 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.
In the case of an annual meeting of shareholders, notice to the Company must be provided not less than 30 days nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is called for 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 (which is not also an annual meeting), notice to the Company must be provided no 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. For the Meeting, any notice delivered to the Company prior to the close of business on May 23, 2014 shall be deemed to have been timely delivered.
The Company believes that adopting the Provision is considered to be good corporate governance. The Provision provides a clear process for shareholders to follow for director nominations and sets out a reasonable time frame for nominee submissions and the provision of accompanying information. The purpose of the Provision is to treat all shareholders fairly by ensuring that all shareholders receive adequate notice of the nominations to be considered at a meeting and can thereby exercise their voting rights in an informed manner. In addition, the Provision should assist in facilitating an orderly and efficient meeting process.
The amended by-laws, which include the Provision, are effective as of the date they were approved by the Board of Directors, being April 25, 2014. In accordance with the Act, the amendments to the Company’s by-laws are subject to confirmation by shareholders at its next annual meeting of shareholders.
A copy of the Provision, will be available under the Company’s profile on SEDAR at www.sedar.com and on Company’s website.
About EPM Mining Ventures
EPM is an exploration-stage company focused on specialty fertilizers. Through Peak Minerals Inc., its indirect wholly-owned subsidiary, EPM controls directly or through agreement mineral leases on more than 124,000 acres on its Sevier Lake Playa property in Millard County, Utah. With a brine resource known to contain potassium, magnesium, sulphate, lithium and a suite of other beneficial minerals, EPM is targeting the development and production of specialty fertilizers, including SOP, through the use of a cost-effective solar evaporation process. SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts. With the recent completion of a Preliminary Feasibility Study, the Company is currently engaged in engineering and analysis designed to support a feasibility study, environmental permitting, and ultimately mineral production.
For more information, please visit our web site at www.epmmining.com.
Neither 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.
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