|By Marketwired .||
|March 19, 2014 05:00 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/19/14 -- Raymond A. Hrkac, President and CEO of GGL Resources Corp. (TSX VENTURE: GGL) ("GGL"), 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 GGL 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 GGL in circumstances where nominations of persons for election to the board of directors are made by shareholders of GGL. The Policy fixes deadlines by which holders of record of common shares of GGL must submit director nominations to GGL prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to GGL for an effective nomination to occur. No person will be eligible for election as a director of GGL unless nominated in accordance with the provisions of the Policy.
The deadline for notice to GGL 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 GGL 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.
Shareholders will be asked to ratify and confirm the adoption of the Policy at the next annual meeting to be held in 2014. The Board has determined that the Policy is effective, and in full force and effect as of March 11, 2014
The full text of the Policy is available via SEDAR under GGL Resources Corp.'s issuer profile at www.sedar.com or upon request by contacting the President & Chief Executive Officer at 604-688-0546.
The Company has maintained the extensive core mineral properties while selling some non-core diamond leases as previously reported in our annual and quarterly reports. These core mineral claims and leases contain diamond targets, gold targets and VMS targets including both the drill ready and exploration potential for all of these in the Northwest Territories. We also retain our gold and copper-gold-silver mineralization at our McConnell Creek Property in British Columbia. We now sense a change that may mark the beginning of the end of the severe downturn that has affected the TSX Venture Exchange and opportunities to move the Company forward are starting to emerge.
On behalf of the Board,
Raymond A. Hrkac, President & CEO
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 release.
Forward-Looking Information: This news release contains "forward-looking statements" and the cautions regarding such statements apply.
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