TSXV - PPZ.H
VANCOUVER, Nov. 28, 2013 /CNW/ - Pacific Topaz Resources Ltd. (TSXV - PPZ.H) (the "Company") announces that its shareholders voted to adopt amendments to the Company's Articles to include advance notice provisions at its Annual General Meeting held on November 26, 2013 (the "Advance Notice Provisions").
The Advance Notice Provisions include, among other things, a provision that requires advance notice be given to the Company in circumstances where nomination of persons for election to the Board are made by shareholders of the Company.
The Advance Notice Provisions set a deadline by which shareholders must submit nominations (a "Notice") for the election of directors to the Company prior to any annual or special meeting of shareholders. The Advance Notice Provisions also set forth the information that a shareholder must include in the Notice to the Company, and establish the form in which the shareholder must submit the Notice for that notice to be in proper written form.
In the case of an annual meeting of shareholders, a Notice must be provided to the Company not less than 30 days and not more than 65 days prior to the date of the annual meeting. However, 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, a Notice must be provided to the Company not 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.
A copy of the Company's amended Articles containing the Advance Notice Provisions is available under the Company's profile on SEDAR at www.sedar.com.
The Company further reports that pursuant to the Company's Stock Option Plan and upon receiving disinterested shareholder approval, a total of 780,000 stock options previously granted to insiders of the Company have been re-priced at C$0.05 per share, subject to regulatory approval. Except for the amendment to the exercise price, all original terms pertaining to the previously granted stock options will remain in effect.
ON BEHALF OF PACIFIC TOPAZ RESOURCES LTD.
Chief Executive Officer and Director
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 news release.
SOURCE: Pacific Topaz Resources Ltd.
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