VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/24/13 -- Waymar Resources Ltd.'s (TSX VENTURE: WYM) ("Waymar" or the "Company") board of directors (the "Board of Directors") has approved an advance notice policy (the "Policy") effective May 21, 2013. The purpose of the Policy is to provide a clear framework for nominating directors of the Company which will facilitate an orderly and efficient process for nomination and election of directors at annual or special general meetings of shareholders. The Policy includes a process that requires advance notice to the Company in circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Company other than pursuant to a proposal or requisition of shareholders made in accordance with the Business Corporations Act (British Columbia). Among other things, the Policy 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 general meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form.
In the case of an annual general meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual general meeting; provided, however, that in the event that the annual general 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 general 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 general meeting of shareholders (which is not also an annual general meeting), notice to the Company must be made 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 general meeting was made. The Policy provides that the Board of Directors may, in its sole discretion, waive any requirement of the Policy.
The Board of Directors intends to seek shareholder ratification of the Policy at Waymar's next annual and special meeting, to be held on June 26, 2013.
The full text of the Policy is available via SEDAR at www.sedar.com.
About Waymar Resources Ltd.
Waymar Resources Ltd. is a Canadian mineral exploration company with an option to acquire 100% interest in the Anza project located in the west of the Antioquia Department in the Republic of Colombia. Upon exercise of the option, the optionors will retain a 2% net smelter return royalty on that portion of the Anza property governed by the Option Agreement, one-half of which may be purchased by Waymar for a cash payment of US$1,000,000. Waymar also has 100% ownership of certain properties surrounding Anza that cover the district's mineral potential and is continually seeking opportunities to acquire exploration properties. Colombia is a significant producer of gold, nickel, emeralds, petroleum and natural gas as well as a leading producer of coal in Latin America.
WAYMAR RESOURCES LTD.
Pablo Marcet, President & CEO
This press release may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, intentions, analysis and opinions of Waymar made at the date that such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Waymar to be materially different from those expressed or implied by such forward-looking information, including the risk factors relating to receipt of shareholder approval of the Policy, and as otherwise disclosed elsewhere in Waymar's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding Waymar's plans and objectives and may not be appropriate for other purposes. Waymar does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Shares Outstanding: 47,245,170
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.
Waymar Resources Ltd.
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