Knick Exploration: Adoption of by-law 2017-1 Incorporating an Advance Notice Provision for Nomination of Directors

Knick Exploration Inc. (the “Corporation”) (TSXV: KNX) announces the adoption by its Board of Directors of By-Law 2017-1 incorporating an advance notice provision for nomination of directors.
By-Law 2017-1, which provides for an amendment to the By-Laws of the Corporation, includes a provision that requires advance notice to the Corporation in circumstances where nominations of persons for election to the Board are made by shareholders of the Corporation other than pursuant to (i) a requisition to call a shareholders’ meeting made pursuant to the provisions of the Canada Business Corporations Act (the “CBCA”), or (ii) a shareholder proposal made pursuant to the provisions of the CBCA (the “Advance Notice Provision”).
Among other things, the Advance Notice Provision fixes a deadline by which holders of record of common shares of the Corporation must submit director nominations to the Corporation prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Corporation for the notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the Corporation must be made not less than 30 nor 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 40 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), 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 Advance Notice Provision provides a clear process for shareholders to follow to nominate directors and sets out a reasonable time frame for nominee submissions along with a requirement for accompanying information. The purpose of the Advance Notice Provision is to treat all shareholders fairly by ensuring that all shareholders, including those participating in a meeting by proxy rather than in person, receive adequate notice of the nominations to be considered at a meeting and can thereby exercise their voting rights in an informed manner. In addition, the Advance Notice Provision should assist in facilitating an orderly and efficient meeting process.
By-Law 2017-1 is effective since April 24, 2017 and is subject to approval of the shareholders of the Corporation at their next annual and special meeting that will be held on June 29, 2017. A copy of By-Law 2017-1 is available under the profile of the Corporation on the website www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Inc. Knick Exploration Inc.
Val-d’Or, Quebec Val-d’Or, Quebec
819-874-5252 819-874-5252
819-856-1387 819-210-1406
 
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Source: www.thenewswire.com