U.S. Markets open in 5 hrs 34 mins

Gitennes Completes Continuation into British Columbia and Adopts Advance Notice Policy

VANCOUVER , March 3, 2017 /CNW/ -  Gitennes Exploration Inc. ("Gitennes" or the "Company") - (GIT.V) announces today that it has completed its continuance into British Columbia under the British Columbia Business Corporations Act (the "BCBCA") from the province of Ontario as of February 24 , 2017. 

The continuance was approved by a special resolution of shareholders at the Company's Annual General Meeting on August 15, 2016 , as reported in a news release issued by the Company on August 15 , 2016. 

The head office of the Company is located in British Columbia , and considering the nature of the Company's management and directors, shareholder base and operations, the continuance under the BCBCA will provide the Company with more flexibility as there are no residency requirements for the directors of a company existing under the BCBCA.

Advance Notice Policy

The Company is also announcing the adoption of an advance notice policy (the "Advance Notice Policy") regarding director elections. The purpose of the Advance Notice Policy is to provide a clear process for the shareholders, directors and management to follow when nominating directors of the Company.  Such a policy will ensure that shareholders receive adequate notice of director nominations and sufficient information regarding all director nominees and to allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.

The Advance Notice Policy, among other things, includes a provision that requires advance notice to the Secretary of the Company in certain circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company.  The Advance Notice Policy fixes a deadline by which director nominations must be submitted to the Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the information that must be included in the notice to the Secretary of the Company.  No person will be eligible for election as a director of the Company unless nominated in accordance with the Advance Notice Policy.

In the case of an annual meeting of shareholders, notice to the Secretary of the Company must be made not less than 30 days and not 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 not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting (which is not also an annual general meeting) of shareholders called for the purpose of electing directors (whether or not called for other purposes), notice to the Secretary of 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 of shareholders was made.

The full text of the provisions of the Advance Notice Policy can be found within the Company's Articles.

About Gitennes Exploration Inc.

Gitennes is in the business of exploring for and advancing mineral deposits. Gitennes acquires properties directly by staking, through option agreements with prospectors or other exploration companies, and through reconnaissance programmes.  The Company currently has two gold exploration properties, Hixon and Snowbird, both in British Columbia and has a 1.0% Net Smelter Returns royalty on the Urumalqui Silver Project in Peru .

For further information on the Company, readers are referred to the Company's website at www.gitennes.com and its Canadian regulatory filings on SEDAR at www.sedar.com.

On behalf of the Board of Directors of

Gitennes Exploration Inc.

"Ken Booth"
Ken Booth
President

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 news release.

Cautionary Note Regarding Forward-Looking Information

This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable Canadian securities laws concerning the business, operations and financial performance and condition of the Company.  All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future.  Often, but not always, forward-looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "schedules", estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.  Such forward-looking statements include, among others, statements as to the anticipated business plans and timing of future activities of the Company.  Actual results could differ from those projected in any forward-looking statements due to numerous factors.  Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those beliefs, plans, expectations or intentions will prove to be accurate.  Readers should consider all of the information set forth herein and should review the Company's periodic reports filed from time-to-time with Canadian securities regulators.  These reports and the Company's filings are available at www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking statements.  The forward-looking statements contained in this news release are made as of the date of this news release and, except as otherwise required by law, the Company undertakes no obligation to update the forward-looking statements contained herein, or to update the reasons why actual results could differ from those projected in these forward-looking statements.

SOURCE Gitennes Exploration Inc.


To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2017/03/c2083.html