VANCOUVER , Aug. 8, 2014 /CNW/ - Alternative Earth Resources Inc. (AER.V) (the "Company") announced today the approval by its board of directors (the "Board of Directors") of an advance notice policy (the "Policy") on August 5, 2014 , which Policy, among other things includes a provision that requires advance notice to the Company in circumstances where nominations of a person or persons for election to the Board of Directors are made by shareholders of the Company other than pursuant to: (i) a requisition for 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 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. The Policy provides that the Board of Directors may, in its sole discretion, waive any requirement of the Policy.
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 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 general meeting was made.
The Policy is effective as of the date it was approved by the Board of Directors, and the Company shall seek ratification of the Policy by an ordinary resolution of the shareholders at the 2015 annual general meeting of shareholders (the "Meeting"). In the event that the Policy is not ratified at the Meeting, the Policy shall be void and of no further force or effect as of the termination of the Meeting.
About Alternative Earth Resources Inc.: Alternative Earth Resources Inc. is contemplating a change of its business focus from renewable energy to mineral resource development. With its projected strong cash position and greatly reduced overhead, the Company plans to pursue mining project acquisitions and/or merger opportunities.
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and 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 the Company'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 catered in this Press Release including such forward-looking statements.
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.
Toll Free: 866-688-0808
Toll Free: 866-688-0808
SOURCE Alternative Earth Resources Inc.
- Stocks & Offerings
- Investment & Company Information