Lightstream's by-laws currently impose a quorum requirement of 50% of the shares entitled to vote at the meeting. Despite our efforts and those of our proxy solicitation agent, Kingsdale Shareholders Services, to encourage shareholder participation, it is uncertain at this time whether the 50% quorum level will be satisfied. Without quorum, the business of the upcoming annual general meeting, which includes a proposal to amend our by-laws to reduce the quorum requirement to 25% for future shareholder meetings, will not be able to proceed and additional cost and delay will be incurred in adjourning or cancelling the meeting. If passed, the quorum amendment will be consistent with the quorum requirements of our peers, eliminate costs associated with proxy solicitation agents, and align with governance practices.
The proxy submission deadline has been extended to allow any shareholders who have not yet voted to submit their votes. Shareholders who have not yet voted are encouraged to submit their votes online, through their brokers or other intermediaries, using the instructions provided on the proxy materials mailed last month, or by contacting Kingsdale via: toll-free phone in
We encourage shareholders to participate in our annual meeting and vote their shares. Our annual meeting will be held at the Metropolitan Centre,
FOR FURTHER INFORMATION PLEASE CONTACT:
John D. WrightPresident and Chief Executive Officer 403.268.7800 403.218.6075 (FAX) Peter D. ScottSenior Vice President and Chief Financial Officer 403.268.7800 403.218.6075 (FAX) Bill A. KantersVice President Capital Markets 403.268.7800 403.218.6075 (FAX) email@example.com Source: Lightstream Resources Ltd.