Kapuskasing Gold Amends Articles to Include Advance Notice Provisions
April 30, 2015 – Kapuskasing Gold Corp. (TSX-V: KAP) (the “Company” or “Kapuskasing”) announces that it received shareholder approval at the Annual General & Special meeting held on April 29, 2014 to amend its Articles to include Advance Notice Provisions.
The Advance Notice Provisions (the “ANP”) require advance notice to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (British Columbia) (the "Act"), or
(ii) a shareholder proposal made pursuant to the provisions of the Act.
Among other things, the ANP 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 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 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 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 no 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 Company 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 Company confirms it has made an application to the TSX Venture Exchange for its approval to alter the Articles to include ANP.
On behalf of the Board of Directors of Kapuskasing Gold Corp.,
“Dean Nawata”
Dean Nawata President & CEO, Director Phone 1-604-561-2821
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.
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