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Omineca Issues Options, Re-prices Existing Options, Adopts Advance Notice Bylaw
Omineca Issues Options, Re-prices Existing Options, Adopts Advance Notice Bylaw Cranbrook, B...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"Omineca Issues Options, Re-prices Existing Options, Adopts Advance Notice BylawOmineca Issues Options, Re-prices Existing Options, Adopts Advance Notice Bylaw\nCranbrook, British Columbia CANADA, November 08, 2013 /FSC/ - Omineca Mining and Metals Ltd. (OMM - TSX Venture), (\"Omineca\" or the \"Corporation\") has granted incentive stock options to directors, employees and key consultants of the company for the purchase of a total of 3,815,000 shares at an exercise price of $.10 per share, expiring November 8th, 2018. \nIn addition, Omineca has re-priced 1,340,000 options issued previously to directors, consultants and employees, subject to shareholder and regulatory approval. The options were granted in June, 2011 at an exercise price of $.40, expiring June, 2016. The new exercise price will be set at $.10 with vesting provisions and expiry dates of the re-priced options remaining unchanged.\nAdvance Notice Bylaw\nThe Corporation announces that the board of directors has, subject to any necessary regulatory approval, approved an amendment to the Corporation's general by-law, which adds a provision requiring proposed nominations for directors to be provided to the board in advance of shareholder meetings that deal with the election of directors. The by-law amendment is in effect now and will be presented to shareholders at the upcoming meeting of shareholders for their confirmation, rejection or further amendment. In the event the by-law amendment is rejected by shareholders, it will cease to effect immediately following such meeting. Shareholders of the Corporation may obtain a copy of the by-law amendment by contacting the Corporation at its head office. \nThe advance notice policy includes, among other things, a provision that requires advance notice be given to the company in circumstances where nominations of persons for election to the board are made by shareholders of the company. The advance notice policy sets a deadline by which shareholders must submit nominations for the election of directors to the company prior to any annual or special meeting of shareholders, sets forth the information that a shareholder must include in the notice to the company, and establishes the form in which the shareholder must submit the notice for that notice to be in proper written form. \nThe advance notice bylaw, re-pricing and issuance o...