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California Gold Announces Adoption of Advance Notice By-Law
California Gold Announces Adoption of Advance Notice By-Law Toronto, Ontario CANADA, Septemb...
About this update from Canadian Goldfields Discovery Corp
[{"type":"text","content":"California Gold Announces Adoption of Advance Notice By-LawCalifornia Gold Announces Adoption of Advance Notice By-Law\nToronto, Ontario CANADA, September 13, 2013 /FSC/ - California Gold Mining Inc. (CGM - TSX Venture), (\"California Gold\" or the \"Company\") announces that the board of directors (the \"Board\") of the Company has approved the adoption of an advance notice by-law (the \"Advance Notice By-law\").  \nThe 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) 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 California Gold must submit director nominations to the Secretary 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 Secretary 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. \nIn the case of an annual general meeting of shareholders, notice to the Secretary 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.\nIn 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 Secretary of the Company must be made not later than the close of business on the fifteenth (15th) day following the da...