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Bell Copper Results of its Special General Meeting, Approval of Shareholder Rights Plan, 2022 Stock Option Plan and Grant of Stock Options
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2022) - Bell Copper Corporation (TSXV:...
About this update from Bell Copper Corporation
[{"type":"text","content":"Bell Copper Results of its Special General Meeting, Approval of Shareholder Rights Plan, 2022 Stock Option Plan and Grant of Stock OptionsVancouver, British Columbia--(Newsfile Corp. - June 8, 2022) - Bell Copper Corporation (TSXV: BCU) (OTCQB: BCUFF) (\"Bell Copper\" or the \"Company\") announces results of the special meeting of its shareholders which was held on May 26, 2022 (the \"SGM\"). At the SGM, the Company received a 98% majority approval to the shareholder rights plan agreement (the \"SRP\") with TMX Trust Company as rights agent, dated effective January 27, 2022 (see News Release dated January 27, 2022). A complete copy of the SRP is available for viewing under the Company's profile on SEDAR at www.sedar.com.The SRP is similar to rights plans adopted by other Canadian public companies and has not been adopted in response to any pending or threatened takeover bid for Bell Copper, nor is the Company aware of any such effort. Rather, the SRP has been adopted with a view to ensuring, to the extent possible, that all shareholders of the Company have an equal opportunity to participate in, and are treated fairly in the event of a \"creeping takeover bid\" for the Company. Creeping takeover bids, which were not addressed in Canada's takeover bid regime updated in May 2016, occur where acquisition of effective control takes place through a number of share purchases over time.In addition, the Company received a 98% majority approval from its shareholders to a new 2022 Fixed Stock Option Plan (the \"2022 Plan\") providing for changes to comply with the new Policy 4.4 Security Based Compensation of the TSXV, which became effective on November 24, 2021. The 2022 Plan also includes an increase to the number of shares reserved for issuance under the 2022 Plan from 14,240,323 to 23,809,847 shares. The SOP included in the Company's Information Circular was subsequently amended based on comments received from the TSX Venture Exchange and the amended SOP was approved by shareholders at the SGM. A complete copy of the amended 2022 Plan is available for viewing under the Company's profile on SEDAR at www.sedar.com.Details of the matters approved at the SGM are set out in the Company's Management Information Circular dated April 18, 2022 which can be found either on the Company's website at www.bellcopper.net or on SEDAR at www.sedar.com...