VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 8, 2013) - High Desert Gold Corporation (the" Company") (TSX VENTURE:HDG)(HDGCF) announced today the adoption by its board of directors of amendments to its by-laws to include advance notice provisions, the purpose of which is to require that advance notice be provided to the Company in circumstances in which nominations of persons for election to the board of directors of the Company are made by shareholders other than pursuant to the requisition of a meeting or a shareholder proposal in accordance with the Canada Business Corporations Act.
Among other things, the by-law amendment fixes a deadline by which shareholders must provide notice to the Company of nominations for election to the board 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 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 Company must be made no later than the close of business on the 15th day following the date on which the first public announcement of the date of the special meeting was made.
Ralph Fitch, President and CEO of the Company said, "the advance notice by-law provides a clear process for shareholders to follow to nominate directors and sets out a reasonable time frame for nominee submissions along with requirements for accompanying information. The purpose is to ensure that shareholders are well-informed about director nominees and that shareholders are able to vote in an informed manner after having been afforded reasonable time for appropriate deliberation."
The by-law amendment is effective immediately. In accordance with the Canada Business Corporations Act, the amendment will be subject to confirmation by shareholders at the Company's next shareholder meeting.
A copy of the amendment, containing the full details of the advance notice provisions has been filed under the Company's profile on SEDAR at www.sedar.com.
ABOUT HIGH DESERT GOLD CORPORATION
The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The major properties held by HDG are the Gold Springs gold project situated along the border between Utah and Nevada and the San Antonio project in Sonora, Mexico. The Company also has a 30.5% interest in the Canasta Dorada property in Sonora, Mexico, through its equity interest in Highvista Gold Inc. There has been insufficient exploration to define a property-wide mineral resource at Gold Springs and at San Antonio and it is uncertain if further exploration will result in the targets at these two projects being delineated as a mineral resource.