|By Marketwired .||
|March 21, 2014 11:59 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/21/14 -- Regulus Resources Inc. ("Regulus" or the "Company"), (TSX VENTURE: REG) is pleased to announce that the board of directors (the "Board") of Regulus has adopted an advance notice by-law (the "Advance Notice By-law"). The Advance Notice By-law sets forth provisions requiring advance notice to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a "proposal" made in accordance with section 136(1) of the Business Corporations Act (Alberta) (the "Act"); or (ii) or a requisition of the shareholders made in accordance with section 142(1) of the Act. More specifically, the Advance Notice By-law fixes a deadline by which holders of record of common shares of Regulus must submit director nominations to the Chief Executive Officer of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Chief Executive Officer of the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Advance Notice By-law.
In the case of an annual general meeting of shareholders, notice to the Chief Executive Officer of the Company must be made not less than 30 nor more than 65 days prior to the date of the annual general meeting of shareholders; provided, however, that in the event that the annual general meeting of shareholders is to be held on a date that is less than 50 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the nominating shareholder may be made not later than the close of business on the tenth (10th) day following the Notice Date.
In the case of a special meeting (which is not also an annual general meeting) of shareholders called for the purpose of electing directors (whether or not called for other purposes), notice to the Chief Executive Officer of the Company must be made not later than the close of business on the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting of shareholders was made.
The Advance Notice By-law is now effective and in full force and effect. The Advance Notice By-law will be put to shareholders of the Company for approval at its upcoming annual general and special meeting of shareholders scheduled for April 17, 2014. If the Advance Notice By-law is not confirmed at the meeting by ordinary resolution of shareholders, the Advance Notice By-law will terminate and be of no further force and effect following the termination of the shareholders meeting.
The full text of the Advance Notice By-law is available via SEDAR at www.sedar.com or upon request by contacting the Corporate Secretary of the Company at (604) 681-4462 or by email at [email protected].
About Regulus Resources Inc.
Regulus Resources Inc. (TSX VENTURE: REG) is a mineral exploration company formed in December, 2010 in connection with the sale of Antares Minerals Inc. to First Quantum Minerals Ltd.. Regulus has been exploring the Rio Grande Cu-Au-Ag porphyry project in Salta Province of NW Argentina on a 50/50 joint-venture basis with Pachamama Resources. In May 2012, the two companies merged under the name Regulus Resources to consolidate a 100% interest in the project.
This press release contains forward looking statements. More particularly, this press release contains statements concerning the anticipated date of the Company's annual general and special shareholders meeting and the anticipated shareholder approval of the Advance Notice By-law. Although Regulus believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Regulus can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The Company's annual general and special meeting may be delayed. Shareholders may not approve the Advance Notice By-law. Accordingly, there is a risk that the Advance Notice By-law will only be in force for a brief period of time.
The forward looking statements contained in this press release are made as of the date hereof and Regulus undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the 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.
Regulus Resources Inc.
John E. Black
President / CEO / Director
+1 720 514-9036
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