Business
Canstar Adopts Advance Notice By-law
(TheNewswire) Toronto, Ontario - TheNewswire – October 22, 202...
About this update from Canstar Resources Inc.
[{"type":"text","content":"Canstar Adopts Advance Notice By-law\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Toronto, Ontario -\n \n \n TheNewswire\n \n \n – October 22, 2021 – CANSTAR RESOURCES\nINC. (TSXV:ROX\n \n \n )\n \n \n &\n \n \n (\n \n \n OTC:CSRNF)\n \n \n (“\n \n \n Canstar” or the “Company\n \n \n ”)\n \n \n announces that its board of directors approved\nthe adoption of an advance notice by-law (the “\n \n \n Advance Notice By-law\n \n \n ”), establishing a framework for advance notice of\nnominations of directors by shareholders of the Company\n(“\n \n \n Shareholders\n \n \n ”). Among other things, the Advance Notice By-law fixes\ncertain deadlines by which Shareholders must submit a notice of\ndirector nominations to the Company prior to any annual or special\nmeeting of shareholders where directors are to be elected and sets\nforth the information that must be included in the notice.\n \n \n \n \n The Advance Notice By-law provides a clear process for\nShareholders to follow for director nominations and sets out a\nreasonable time frame for the submissions of nominees and the\naccompanying information. The Advance Notice By-law will help to\nensure that all Shareholders receive adequate notice of the\nnominations to be considered at a Shareholder meeting at which\ndirectors are to be elected and can thereby exercise their voting\nrights in an informed manner. The Advance Notice By-law is similar to\nthe advance notice by-laws adopted by many other Canadian public\ncompanies.\n \n \n \n \n More specifically, the Advance Notice By-law requires\nadvance notice to the Company in circumstances where nominations of\npersons for election as a director of the Company are made by\nShareholders other than pursuant to a request for a meeting or through\na Shareholder proposal, in each case in accordance with the Business\nCorporations Act (Ontario) (the “\n \n \n OBCA\n \n \n ”)\n \n \n \n \n In the case of an annual meeting of Shareholders,\nnotice to the Company must be given not less than 30 or more than 65\ndays prior to the date of the annual meeting. In the event that the\nannual meeting is to be held on a date that is less than 50 days after\nthe date on which the first public announcement of the date of the\nannual meeting was made, notice may be give...