VANCOUVER, May 28, 2013 /CNW/ - Gold Mountain Mining Corporation ("Gold Mountain") announces that the Board of Directors has approved the adoption of an advance notice policy (the "Policy"), for the purpose of providing shareholders, directors and management of Gold Mountain with a clear framework for nominating directors. The Policy is meant to: (i) facilitate an orderly and efficient annual general or, where the need arises, special meeting, process; (ii) ensure all shareholders receive adequate notice of the director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation.
The Policy contains a provision that requires advance notice to Gold Mountain in circumstances where nominations of persons for election to the board of directors are made by shareholders of Gold Mountain. The Policy fixes deadlines by which holders of record of common shares of Gold Mountain must submit director nominations to Gold Mountain prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to Gold Mountain for an effective nomination to occur. No person will be eligible for election as a director of Gold Mountain unless nominated in accordance with the provisions of the Policy.
The deadline for notice to Gold Mountain in the case of an annual meeting of shareholders is not less than 55 days prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is to be held on a date that is less than 65 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 (which is not also an annual meeting) of shareholders called for the purpose of electing directors (whether or not called for any other purposes), the deadline for notice to Gold Mountain is 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 meeting was made.
At the annual and special meeting to be held on June 25, 2013, the shareholders of the Company will be asked to ratify and confirm the adoption of the Policy. The Board has determined that the Policy is effective, and in full force and effect as of May 24, 2013.
The full text of the Policy is available via SEDAR under Gold Mountain's issuer profile at www.sedar.com or upon request by contacting the Chief Executive Office at 604-558-4653.
ON BEHALF OF THE BOARD
"Chris McLeod" (signed)
Chris McLeod, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may include certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements.
SOURCE: Gold Mountain Mining Corporation
Chris McLeod, President & CEO or Rod Shier, Chief Financial Officer at 604 558-4653