2014-02-18 13:11:17 -
White Rock, British Columbia CANADA, February 18, 2014 /FSC/ - Orovero Resources Corp. (OVR - TSX Venture, GA0 - Frankfurt"Orovero" or the "Company") has adopted a new policy that requires advance notice to Orovero for nominations of directors other than by management, through a requisition for a meeting or by way of a shareholder proposal.
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 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.
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 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 tenth 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 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 was made.
The new policy is intended to: (i) facilitate an orderly and efficient annual general or special meeting process; (ii) ensure that all shareholders receive adequate notice of the director nominations and sufficient information regarding all director nominees; and (iii) allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.
The policy is effective immediately and will be placed before Orovero's shareholders for approval at its next annual general meeting of shareholders.
About Orovero Resources Corp.
Orovero is preparing a comprehensive study to develop its first gold ore processing operation in Peru. The Company will look to purchase high-grade ore from small and artisanal miners who are legally compliant, and then process it for sale. The Company's initial focus is Peru but looks to expand with additional facilities throughout Latin America in the future. In addition, the Company has a portfolio of highly prospective exploration properties including its flagship property called Rio Tabaconas located in Northern Peru.
ON BEHALF OF THE BOARD
Mr. Len Clough, Chairman, President, CEO and Director
For further information please contact:
Mr. Shawn Perger, Corporate Communications
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.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include, without limitation, statements regarding the Company's plans with respect to statements about the Company's ability to fund and execute the proven ore processing business model outlined in this news release. Although Orovero believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the press release as a PDF, please click on the following link:
Source: Orovero Resources Corp. (OVR - TSXV) www.oroveroresources.com
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