MONTREAL, Nov. 15, 2013 /CNW/ - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSXV: LLG) (OTCQX: MGPHF)
announces that its Board of Directors has approved an amendment to the Company's
by-laws to include an advance notice policy (the "Policy"), which
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
requisition of a meeting made pursuant to the provisions of the Business Corporations Act (Ontario) (the "Act"), or (ii) a shareholder proposal made pursuant to
the provisions 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 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, 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 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 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 Policy is intended to:
facilitate an orderly and efficient annual general or special meeting
ensure that all shareholders receive adequate notice of the director
nominations and sufficient information regarding all director nominees;
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 Mason
Graphite's shareholders for approval at the next annual general meeting
scheduled to be held on December 11, 2013.
The full text of the Policy is available via SEDAR at www.sedar.com.
About Mason Graphite
Mason Graphite is a Canadian mining company focused on the exploration
and development of its 100% owned Lac Guéret graphite property, which
is located in northeastern Québec near the main service center of
Baie-Comeau. The Lac Guéret property currently hosts a National
Instrument 43-101 compliant Mineral Resource (see news release issued
on July 16, 2012), based only on 17% of the known mineralized zone.
Excellent potential exists for mineral growth. The Company has also
completed a Preliminary Economic Assessment study which features 22
years of production at 27.4% Cg and a pre-tax internal rate of return
of 33.7% (see technical report issued by the Company on June 6, 2013).
The Company's senior management team possesses significant graphite
expertise from their experience at Timcal/Imerys; including Benoit
Gascon, CPA, CA, who held executive positions for 20 years, including
over 6 years as President and CEO; Jean L'Heureux, Eng., Executive
Vice-President, Process Development, with over 20 years of experience;
and Luc Veilleux, CPA, CA, Chief Financial Officer and Executive
Vice-President, with 8 years of experience. Timcal, now owned by
Imerys, is one of the largest graphite producers in the world.
For more information about Mason Graphite, visit www.masongraphite.com or contact email@example.com.
Jean L'Heureux, Eng., Mason Graphite's Executive Vice-President of
Process Development and a Qualified Person as defined by National
Instrument 43-101, has reviewed and approved the scientific and
technical content of this press release.
Stay Connected: Twitter: @MasonGraphite Facebook: /MasonGraphite
On behalf of Mason Graphite Inc.:
Benoît Gascon, President & CEO
Cautionary Statements Regarding Forward Looking Information
This press release contains "forward-looking information" within the
meaning of Canadian securities legislation. All information contained
herein that is not clearly historical in nature may constitute
forward-looking information. Generally, such forward-looking
information can be identified by the use of forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of
such words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company
to be materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i) volatile
stock price; (ii) the general global markets and economic conditions;
(iii) the possibility of write-downs and impairments; (iv) the risk
associated with exploration, development and operations of mineral
deposits; (v) the risk associated with establishing title to mineral
properties and assets; (vi) the risks associated with entering into
joint ventures; (vii) fluctuations in commodity prices; (viii) the
risks associated with uninsurable risks arising during the course of
exploration, development and production; (ix) competition faced by the
resulting issuer in securing experienced personnel and financing; *
access to adequate infrastructure to support mining, processing,
development and exploration activities; (xi) the risks associated with
changes in the mining regulatory regime governing the resulting issuer;
(xii) the risks associated with the various environmental regulations
the resulting issuer is subject to; (xiii) risks related to regulatory
and permitting delays; (xiv) risks related to potential conflicts of
interest; (xv) the reliance on key personnel; (xvi) liquidity risks;
(xvii) the risk of potential dilution through the issue of common
shares; (xviii) the Company does not anticipate declaring dividends in
the near term; (xix) the risk of litigation; and (xx) risk management.
Forward-looking information is based on assumptions management believes
to be reasonable at the time such statements are made, including but
not limited to, continued exploration activities, no material adverse
change in metal prices, exploration and development plans proceeding in
accordance with plans and such plans achieving their stated expected
outcomes, receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the Company has
attempted to identify important factors that could cause actual results
to differ materially from those contained in the forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Such forward-looking
information has been provided for the purpose of assisting investors in
understanding the Company's business, operations and exploration plans
and may not be appropriate for other purposes. Accordingly, readers
should not place undue reliance on forward-looking information.
Forward-looking information is made as of the date of this press
release, and the Company does not undertake to update such
forward-looking information except in accordance with applicable
Full technical details and notes for the Preliminary Economic Assessment
("PEA") can be found in the technical report entitled "NI 43-101
Technical Report on the Preliminary Economic Assessment, Lac
Guéret Graphite Project, Quebec, Canada" dated June 6, 2013 and
effective April 22, 2013, which is available under Mason
Graphite's profile on SEDAR at www.sedar.com and on Mason Graphite's website at www.masongraphite.com.
A PEA is preliminary in nature and includes Inferred Mineral Resources,
which are considered too geologically speculative to have mining and
economic considerations applied to them that would enable them to be
categorized as mineral reserves. Mineral resources that are not mineral
reserves do not have demonstrated economic viability. There is no
certainty that the reserves development, production, and economic
forecasts on which the PEA is based will be realized.
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.
SOURCE: Mason Graphite Inc.
For further information:
Simon Marcotte, VP Corporate Development
+1 (416) 861-5822
65 Queen Street West, Suite 800
Toronto, ON M5H 2M5
2000 McGill College ave., Suite 2210
Montreal, QC H3A 3H3