VANCOUVER, July 16, 2013 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF) ("Coronado" or the "Company") is pleased to announce that Coronado's
board of directors (the "Board of Directors") has approved an advance
notice policy (the "Policy"). The purpose of the Policy is to provide
shareholders, directors and management of the Company with a clear
framework for nominating directors of the Company, which will (i)
facilitate an orderly and efficient process for the election of
directors at annual general and special meetings; (ii) ensure that all
shareholders receive adequate notice of the director nominations and
sufficient information with respect to all director nominees; and (iii)
allow shareholders to register an informed vote after having been
afforded reasonable time for appropriate deliberation.
The Policy includes a process 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. 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 general 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 general 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 general meeting; provided, however, that in the
event that the annual general 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 general meeting was made, notice may be made
not later than the close of business on the 10th day following such
In the case of a special general meeting of shareholders (which is not
also an annual general 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 general
meeting was made.
The Policy provides that the Board of Directors may, in its sole
discretion, waive any requirement of the Policy.
The Policy is in effect as at the date of this news release. The Board
of Directors intends to seek shareholder ratification of the Policy at
Coronado's next annual general and special meeting (the "Meeting"), to
be held on August 26, 2013. If the Policy is not confirmed at the
Meeting, the Policy will terminate and be of no further force and
effect following the termination of the Meeting. The full text of the
Policy is available via SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not historical facts
are forward-looking statements that involve various risks and
uncertainty affecting the business of Coronado. Such statements can
generally, but not always, be identified by words such as "expects",
"plans", "anticipates", "intends", "estimates", "forecasts",
"schedules", "prepares", "potential" and similar expressions, or that
events or conditions "will", "would", "may", "could" or "should"
Forward-looking statements and information concerning anticipated
financial performance are based on management's assumptions using
information currently available. Forward-looking statements in this
news release include Coronado's expectations regarding the ability to
confirm the Policy at the Meeting.
In making the forward-looking statements in this news release, Coronado
has applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado's
current beliefs and assumptions made by Coronado, including that
Coronado will be able to obtain the requisite shareholder approval to
confirm the Policy at the Meeting. Although Coronado considers these
beliefs and assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future results to
differ materially from those expressed or implied in such
forward-looking statements. Such risk factors include, among others,
that the shareholders do not approve the Policy at the Meeting.
Although Coronado has attempted to identify important factors that
could cause actual results to differ materially from those contained in
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 information 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 information. Coronado does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
Neither TSX-V nor its Regulation Services Provider (as that term is
defined in the policies of the TSX-V) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE: CORONADO RESOURCES LTD.
For further information:
Daniel Brown, CEO
Phone at 604-683-6338