Cornerstone Announces Adoption of Advance Notice Polic
November 4, 2013 – Vancouver, British Columbia – Cornerstone Metals Inc. (TSX-V – CCC) (“Cornerstone”
or the “Company”) announces that it will hold an annual general and special meeting of its shareholders (the “AGM”) on December 2, 2013.
The Company also announces the approval by its board of directors of an Advance Notice Policy (the “Policy”), which Policy, among other things, includes a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company other than pursuant to (i) a “proposal” made in accordance with Division 7 of the Business Corporations Act (British Columbia)(the “Act”); or (ii) a requisition of the shareholders made in accordance with section 167 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 Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Secretary of the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.
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 by the Company, 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 no 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 Policy is effective and in full force and effect as of the date it was approved. In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the AGM, and if the Policy is not confirmed at the meeting by ordinary resolution of shareholders, the Policy will terminate and be of no further force and effect following the termination of the AGM.
The date of the AGM is less than 50 days from the date hereof, therefore, any director nominations for the AGM must be received by the Company in compliance with the Policy no later than the close of business on Thursday, November 14, 2013.
“This added policy will allow the shareholders to be more involved in the direction and management of the Company moving forward,” stated Courtney Shearer, interim CEO.
The full text of the Policy will be available via SEDAR at www.sedar.com or upon request by contacting the Company at (406) 804-8636 or by email: [email protected].
About Cornerstone Metals Inc.
Cornerstone’s objective is to stage copper and precious metals properties to production in the Americas. The Company’s Management and Board core competence is in exploration, permitting, development, construction, and operation of mining projects.
Cornerstone recently acquired four large scale copper projects in the highly prolific copper district in SW USA. Three projects have potential as large footprint, copper oxide deposits. The fourth has potential for a large scale, copper-rich VMS deposit.
ON BEHALF OF CORNERSTONE METALS INC.
“Courtney Shearer”
Interim CEO & President
For further information, please contact:
Courtney Shearer
Tel: 403-804-8636
Fax: 888-255-9604
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Cornerstone does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.
