Source Exploration Corp. Announces Adoption of Advance Notice-By-Law & Retains Transcend Resource Group for Investor Relation...
03 Febbraio 2014 - 7:51PM
Marketwired
Source Exploration Corp. Announces Adoption of Advance
Notice-By-Law and Retains Transcend Resource Group for Investor
Relations Services
THUNDER BAY, ONTARIO--(Marketwired - Feb 3, 2014) - Source
Exploration Corp. (the "Corporation") (TSX-VENTURE:SOP) today
announced that its board of directors (the "Board") has approved an
amendment to the by-laws of the Corporation (By-Law No. 1) to
include mandatory procedures for nominations of persons for
election to the Board, including an advance notice requirement for
nominations of directors by shareholders in certain circumstances
(the "By-Law Amendment").
The advance notice requirement fixes a deadline by which holders
of record of common shares of the Corporation must submit director
nominations to the Secretary of the Corporation prior to any annual
meeting of shareholders (or any special meeting of shareholders if
one of the purposes for which the special meeting is called is the
election of one or more directors) and sets forth the specific
information that a nominating shareholder must include in the
written notice to the Secretary of the Corporation for a nomination
to be valid.
The Board understands that amending the Corporation's by-laws to
include an advance notice requirement is consistent with an
emerging corporate governance trend among Canadian issuers. The
Board and management believe that the By-Law Amendment provides
shareholders, directors and management with a transparent,
structured and fair framework for nominating directors. In
addition, the Board and management believe that the advance notice
requirement will facilitate an orderly and efficient annual or
special meeting process, ensure that all shareholders receive
adequate notice and information concerning nominees and provide
shareholders reasonable time for appropriate deliberation in
advance of the meeting.
In the case of an annual meeting of shareholders, notice to the
Corporation must be made not less 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
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) called for the purpose of electing
directors (whether or not called for other purposes), 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 By-Law Amendment is effective immediately and will be placed
before shareholders for ratification at the upcoming annual and
special meeting of shareholders of the Corporation. A copy of the
By-Law Amendment will be filed under the Corporation's profile at
www.sedar.com.
Investor
Relations
Source Exploration Corp. is pleased to announce that it has
retained the services of Transcend Resource Group to assist with
Investor Relations activities. Transcend Resource Group will be
engaged for a period of 12 months at an annual rate of $82,500 plus
applicable expenses.
About Source
Exploration Corp.
Source is a Canadian
based mineral exploration company committed to building long-term
value through the discovery, acquisition and advancement of mineral
properties. The Company holds an option on the Las Minas gold,
silver and copper exploration project located within the Las Minas
mining district in the State of Veracruz, Mexico. The district
hosts one of the largest underexplored gold - silver - copper skarn
systems known in Mexico and has a strong production history that
dates back to the Aztec era.
ON BEHALF OF THE BOARD OF DIRECTORS
David Baker, Executive Chairman
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain
information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements about
future, exploration results relating to the Las Minas project,
exploration plans for the Las Minas project and the exploration
potential of the Las Minas project. Forward-looking information is
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking information, including the risks
identified in the Company's disclosure documents. There can be no
assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. All
forward-looking information contained in this press release is
given as of the date hereof and is based upon the opinions and
estimates of management and information available to management as
at the date hereof. The Company disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
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.
Source Exploration Corp.David BakerExecutive
Chairman604-817-4211 or
604-970-8050807-474-4272info@sourceexploration.comwww.sourceexploration.com
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