ROUYN-NORANDA, QC, Oct. 24, 2013 /CNW Telbec/ - Visible Gold Mines Inc. (TSX-V: VGD) (Frankfurt: 3V4) is pleased to announce that its Board of Directors has approved
amendments to the Corporation's by-laws including, among other things,
the adoption of an advance notice by-law. The advance notice by-law
requires advance notice to the Corporation in circumstances where
nominations of persons for election to the Board of Directors of the
Corporation are made by shareholders other than pursuant to a
requisition of a meeting or a shareholder proposal made under the Canada Business Corporations Act.
The advance notice by-law is meant to facilitate an orderly and
efficient annual and/or special meeting process, ensure all
shareholders receive adequate notice of director nominations and
sufficient information with respect to all nominees, and allow
shareholders to register an informed vote, having been afforded
reasonable time for appropriate deliberation.
Among other things, the advance notice by-law fixes a deadline by which
holders of record of the Corporation's common shares must submit
director nominations to the Corporation prior to any annual or special
meeting of shareholders, and sets out the information that a
shareholder must include in such notice to the Corporation.
In the case of an annual meeting of shareholders, notice to the
Corporation must be made not less than 30 days 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 first public announcement was made of
the date of the annual meeting, notice may be made no 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 Corporation must be made not later than
the close of business on the 15th day following the day on which first public announcement was made of the
date of the special meeting.
The advance notice by-law is effective until it is confirmed, confirmed
as amended or rejected by shareholders of the Corporation at the next
annual and special meeting of shareholders, to be held on November 29,
2013. If the advance notice by-law is confirmed or confirmed as amended
at the meeting, it will continue in effect in the form in which it is
If the advance notice by-law is rejected by shareholders at the next
meeting, or the directors do not submit the advance notice by-law to
shareholders at the meeting, the advance notice by-law will cease to be
effective from the date of the meeting and no subsequent resolution of
the Board of Directors to make, amend or repeal a by-law having
substantially the same purpose or effect as the advance notice by-law
would be effective until confirmed or confirmed as amended by the
shareholders of the Corporation.
The full text of the advance notice by-law is available on SEDAR at www.sedar.com, or upon request by contacting the Corporate Secretary of the
Corporation at (819) 762 0609 or by e-mail at email@example.com.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic company aggressively searching for
the next important gold deposit in northwestern Québec, an area
consistently ranked as one of the world's best jurisdictions for mining
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 the release.
SOURCE: Visible Gold Mines Inc.
For further information:
Martin Dallaire, President and Chief Executive Officer
Telephone: 819-762-0609, Fax: 819-762-0097