Toronto, Ontario–(Newsfile Corp. – July 30, 2014) – Crown Mining Corp., (TSXV: CWM) (“Crown” or the “Company“) reminds its shareholders and other market participants that, at its June 26, 2013 annual and special shareholders’ meeting, the shareholders approved a by-law, similar to by-laws and policies recently adopted by many other Canadian public companies, requiring advance notice to the Company for nominations of directors by shareholders, other than through a requisitioned meeting or by way of a shareholder proposal pursuant to applicable corporate laws. The by-law became effective May 27, 2013.
The by-law is not intended to discourage director nominations but rather to facilitate orderly and efficient meetings at which directors are to be elected and to permit shareholders to make an informed vote at shareholder meetings by allowing them to receive sufficient information with respect to all director nominees in advance of the meetings and reasonable time for deliberation prior to their votes being cast, whether by proxy in advance of the meeting or at the meeting.
The by-law provides shareholders, directors and management of the Company with a clear framework for nominating directors in an orderly and fair manner. The by-law fixes a deadline by which holders of common shares of the Company must submit director nominations to the Chairman of the Board of the Company prior to any annual meeting of shareholders or any special meeting of shareholders at which directors are to be elected. The by-law also sets forth the information that a shareholder must include in a written notice to the Company in order for any director nominee named in the notice to be eligible for election at any annual or special meeting of shareholders.
In the case of an annual meeting of shareholders, notice to the Company must be made not fewer than 30 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 fewer than 50 days after the date on which the first public filing or announcement of the date of the annual meeting was made, notice must be given not later than the close of business on the 10th day following such public filing or announcement.
In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be given not later than the close of business on the 15th day following the day on which the first public filing or announcement of the date of the special meeting was made.
For the next annual or special meeting of shareholders of Crown at which directors are to be elected, notice in accordance with the new by-law of persons to be nominated by shareholders for election as directors must be received by the Chairman of the Board within the time periods specified in the new by-law. A copy of the by-law was included in the Company’s 2013 Management Information Circular and is available under Crown’s profile at www.sedar.com.
For more information please see the Crown website at www.crowngoldcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President and CEO, Crown Mining Corp. (416) 361-2827 or email [email protected].
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This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.