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News
Highway 50 Adopts Advance Notice Policy
September 20, 2013
Vancouver, British Columbia — Highway 50 Gold Corp. (TSX.V — HWY) September 20, 2013
Highway 50 Gold Corp. (“Highway 50” 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 Highway 50 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 Highway 50 in circumstances where nominations of persons for election to the Board are made by shareholders of Highway 50. The Policy fixes deadlines by which holders of record of common shares of Highway 50 must submit director nominations to Highway 50 prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to Highway 50 for an effective nomination to occur. No person will be eligible for election as a director of Highway 50 unless nominated in accordance with the provisions of the Policy.
In the case of an annual meeting of shareholders, the deadline for notice to Highway 50 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 Highway 50 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 September 19, 2013.
The full text of the Policy is available via SEDAR under Highway 50’s issuer profile at www.sedar.com or upon request by contacting the Corporate Secretary at (604) 681-4462.
ON BEHALF OF THE BOARD OF DIRECTORS,
For additional information
Telephone: (604) 681-4462 www.highway50gold.com
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.