- TSX.V: KTN
- OTC: KOOYF
Kootenay Silver Adopts Advance Notice Policy for Nominating Directors
Vancouver, British Columbia: Kootenay Silver Inc. (TSX-VENTURE:KTN) ("Kootenay" or the "Company") announces that the board of directors of the Company (the "Board") has approved the adoption of an advance notice policy (the "Policy") for the purpose of providing shareholders, directors and management of Kootenay 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 Kootenay in circumstances where nominations of persons for election to the Board are made by shareholders of Kootenay. The Policy fixes deadlines by which holders of record of common shares of Kootenay must submit director nominations to Kootenay prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to Kootenay for an effective nomination to occur. No person will be eligible for election as a director of Kootenay unless nominated in accordance with the provisions of the Policy.
In the case of an annual meeting of shareholders, the deadline for notice to Kootenay pursuant to the Policy 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 Kootenay pursuant to the Policy 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 next annual meeting of shareholders, 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 17, 2013.
The full text of the Policy is available via SEDAR under Kootenay's issuer profile at www.sedar.com or upon request by contacting the Corporate Secretary at (604) 601-5650.
Kootenay Silver Inc. is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Its flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. Kootenay's objective is to develop near term discoveries and long-term sustainable growth. Its management and technical team are proven professionals with extensive international experience in all aspects of mineral exploration, operations and venture capital markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new discoveries while maintaining minimal share dilution.
For additional information, please contact:
James McDonald, CEO and President at 403-238-6986
Investor Relations at 604-601-5652; 1-888-601-5650
or visit: www.kootenaysilver.com
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. 2013 number 10