February 12, 2014 – Cougar Minerals Corp. (TSX-V: – COU) – ("Cougar" or the "Corporation") is pleased to announce that it will hold an annual and special meeting of shareholders (the "AGM") on March 18, 2014. The record date for shareholders entitled to vote at the AGM is February 7, 2014.
The Corporation also announces that the board of directors of the Corporation (the "Board") has approved new by-laws which include advance notice provisions (the "Advance Notice Provisions"). The Advance Notice Provisions require that advance notice be provided to the Corporation in circumstances where nominations of persons for election to the Board are made by shareholders of the Corporation other than pursuant to: (i) a requisition of a meeting of shareholders made pursuant to the provisions of the Canada Business Corporations Act (the "Act"); or (ii) a shareholder proposal made pursuant to the provisions of the Act.
The purpose of the Advance Notice Provisions is to foster a variety of interests of the shareholders and the Corporation by ensuring that all shareholders – including those participating in a meeting by proxy rather than in person – receive adequate notice of the nominations to be considered at a meeting and can thereby exercise their voting rights in an informed manner. In addition, the Advance Notice Provisions should assist in facilitating an orderly and efficient meeting process. The Advance Notice Provisions provide shareholders, directors and management of the Corporation with a clear framework for nominating directors. Among other things, the Advance Notice Provisions fix a deadline by which holders of common shares must submit director nominations to the Corporation prior to any annual or special meeting of shareholders and sets forth the minimum information that a shareholder must include in the notice to the Corporation for the notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the Corporation 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 the annual meeting is to be held on a date that is less than 40 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 Corporation 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 Corporation’s by-laws are in full force and effect and will be placed before shareholders at the AGM for ratification. For purposes of the AGM, in accordance with the terms of the Advance Notice Provisions, the Board has determined that notice pursuant to section 4.04(b) of the by-laws of nominations of persons for election to the Board at the AGM must be made by February 24, 2014. Such notice must be in the form, and given in the manner, prescribed by the Advance Notice Provisions, and the Secretary of the Corporation has stipulated email@example.com as an email address for receipt of such a notice.
Further information about the Corporation is available on its website www.cougarminerals.com
This press release was prepared on behalf of the Board of Directors, which accepts full responsibility for its content.
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