KFG Resources Announces Adoption of Advance Notice Policy

NATCHEZ, Miss., June 27, 2016 /CNW/ -- KFG Resources Ltd ("KFG Resources" or the "Company") today announced that its Board of Directors has adopted an advance notice policy regarding the nomination of directors (the "Advance Notice Policy"). The purpose of the Advance Notice Policy is to provide shareholders, directors and management of the Company with a clear framework for nominating directors of the Company.

The Advance Notice Policy, among other things, includes a provision that requires advance notice to the Company in certain circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Company. The Advance Notice Policy fixes a deadline by which such director nominations must be submitted to the Company prior to any annual or special meeting of shareholders and sets forth the information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with the Advance Notice Policy.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days and not 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 not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of shareholders called for the purpose of electing directors (whether or not called for other purposes), 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 full text of the Advance Notice Policy is available on SEDAR at www.sedar.com.  The Advance Notice Policy is effective and in full force and effect as of the date it was approved by the Board of Directors on June 20, 2016.

The Company's common shares are listed on the TSX Venture Exchange, Vancouver, B.C., trading symbol "KFG".  The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this release.

 

SOURCE KFG Resources Ltd

For further information: Robert A. Kadane, (303) 825-7081

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