MONTREAL, QUEBEC--(Marketwire - Sept. 25, 2012) - Geomega Resources Inc. ("GeoMegA") (GMA.V) is pleased to announce that it will hold its annual and special meeting of shareholders on Tuesday, October 30, 2012, beginning at 10:00 a.m. (Montreal Time), at 1 Place Quevillon, room 6, Lebel-sur-Quevillon, Quebec (the "Meeting").
The Meeting will include, among other things, special business relating to the confirmation, approval and ratification of GeoMegA's stock option plan and By-Law No. 2012-01.
"The Meeting in Lebel-sur-Quevillon will allow all of management and Board of Directors to exchange with the population of Lebel-sur-Quevillon and the Cree First Nation of Waswanipi. These stakeholders to the Montviel project are paramount in future developments with the necessary workforce and by sharing their interests. The opportunity fits perfectly into our sustainable development policies." comments Simon Britt, CEO.
The By-Law No. 2012-01 amends GeoMegA's current General By-Law No. 2010-01, relating generally to the conduct of the affairs of GeoMegA. Among other things, the By-Law No. 2012-01 includes a provision that requires advance notice to GeoMegA in circumstances where nominations of persons for election to the board of directors are made by shareholders of GeoMegA other than pursuant to a requisition of a meeting made pursuant to the provisions of the Canada Business Corporations Act (the "Act") or a shareholder proposal made pursuant to the provisions of the Act (the "Advance Notice Requirement").
The Advance Notice Requirement fixes a deadline by which holders of record of common shares of GeoMegA must submit director nominations to GeoMegA prior to any annual or special meeting of shareholders and sets forth information that a shareholder must include in the notice to GeoMegA for the notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to GeoMegA must be made not less than thirty (30) days and no more than sixty-five (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 fifty (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 tenth (10th) day following such public announcement. Notwithstanding the foregoing, with respect to only the first annual meeting of shareholders held after the adoption by the board of directors of GeoMegA of the By-Law No. 2012-01, the advance notice to GeoMegA must be given no later than the close of business on the tenth (10th) day following the first public announcement of the requirements of the advance notice.
The By-Law No. 2012-01 was approved by the board of directors of GeoMegA on September 21, 2012 and is in effect until it is confirmed, confirmed as amended or rejected by shareholders at the Meeting, and if confirmed or confirmed as amended, the By-Law No. 2012-01 will continue in effect in the form in which it was so confirmed. If shareholders reject the confirmation of the By-Law No. 2012-01, the General By-Law No. 2010-01 will become effective again in the form in which it was before its amendment by the By-Law No. 2012-01, as of the date of the Meeting (and not retroactively). The full text of the By-Law No. 2012-01 is available on SEDAR at www.sedar.com.
Formal notice of the Meeting, the management proxy circular and the proxy-related materials concerning the Meeting shall be sent to shareholders of record in due course.
About GeoMegA (ressourcesgeomega.ca)
GeoMegA, which owns 100% of the Montviel Rare Earths/Niobium project, is a Quebec mineral exploration company focused on finding economically viable deposits of Minor Metals in Quebec. GeoMegA is committed to meeting Canadian mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.
29,274,113 common shares of GeoMegA are currently issued and outstanding.
/s/ "Simon Britt"
Chief Executive Officer
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