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Asia Now Resources Corp. Adoption of Advance Notice By-Law

Apr 8 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 04/08/13 -- Asia Now Resources Corp. (TSX VENTURE: NOW) (the "Company") announces board approval of amendments to its By-Law to include advance notice provisions, the purpose of which is to require that advance notice be provided to the Company in circumstances where nominations of persons for election to the board of directors of the Company are made by shareholders other than pursuant to the requisition of a meeting or a shareholder proposal in accordance with the Business Corporations Act (Ontario).

Among other things, the By-Law amendment fixes a deadline by which shareholders must provide notice to the Company of nominations for election to the board. The notice must include all information that would be required to be disclosed in a dissident proxy circular in connection with the solicitations of proxies for the election of directors under applicable corporate and securities laws relating to the shareholder making the nominations (as if such shareholder were a dissident soliciting proxies) and each person that such shareholder proposes to nominate for election as a director. In addition, the notice must provide information as to the shareholdings of the shareholder making the nominations, confirmation that the proposed nominees meet the qualifications of directors and residency requirements imposed by corporate law, and confirmation as to whether each proposed nominee is independent for the purposes of National Instrument 52-110. The deadline by which the notice must be delivered to the Company is set forth in the table below.

----------------------------------------------------------------------------Meeting Type Nomination Deadline----------------------------------------------------------------------------Annual meeting of Either (a) no fewer than 30 days and no more thanshareholders 65 days prior to the date of the meeting or (b) no more than 10 days after the date of the first public filing or announcement of the date of the meeting, if the meeting is called for a date that is fewer than 50 days after the date of such public filing or announcement.----------------------------------------------------------------------------Special meeting of No more than 15 days after the date of the firstshareholders (which is public filing or announcement of the date of thenot also an annual meeting.meeting)----------------------------------------------------------------------------



Harold Roy Shipes, President and CEO of the Company said, "the approval of the advance notice By-Law aims to ensure that an orderly nomination process is observed, that shareholders are well-informed about director nominees and that shareholders are able to vote in an informed manner after having been afforded reasonable time for appropriate deliberation".

The By-Law amendment is effective immediately. In accordance with the Business Corporations Act (Ontario), the amendment will be subject to confirmation by shareholders at the Company's next shareholder meeting, scheduled to be held on June 25, 2013. The amendment will apply to that meeting, unless it is not confirmed by shareholders.

The amendment, containing the full details of the advance notice provisions, is being filed under the Company's profile on SEDAR at www.sedar.com.

About Asia Now Resources:

Asia Now Resources Corp. ("ANR") is a mineral exploration company active in China since 2002. The Company has established offices, joint ventures and a significant network with Chinese partners. Current projects include lead, copper, gold and silver at two major projects, Beiya and Habo, both in China. ANR currently holds an indirect 72% interest in the Beiya Project with the option of increasing such indirect interest to 90%. The Beiya Project consists of two joint venture companies. The first, known as Beiya North, is part of a joint venture with Yunnan Non-Ferrous Geology and Mineral Resources Company Limited. ANR is also earning a 70% indirect interest (with the possibility increasing such indirect interest to 88%) in a second joint venture with Yunnan Geology and Mineral Resources Company Limited. The Beiya Project is 60 km by highway north of the city of Dali, which is a 35 minute flight from Kunming, the capital city of Yunnan Province. There are several daily flights, a railway and a paved highway between the two cities. The Beiya Project is one of two key projects that ANR is exploring in China. For more information, please visit www.asianow.ca.

This news release contains certain forward-looking statements. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential", "may" and other similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause ANR's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition or alteration to the information contained in this news release including such forward-looking statements, unless otherwise required under applicable law.

Neither the 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.



Contacts:
Asia Now Resources Corp.
Harold Roy Shipes
President & Chief Executive Officer
1 (520) 490-8100
info@asianow.ca
www.asianow.ca





Source: Marketwire


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