VANCOUVER,
July 16, 2013 /CNW/ - Coronado
Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF)
("Coronado" or the "Company") is pleased to announce that
Coronado's board of directors (the
"Board of Directors") has approved an advance notice policy (the
"Policy"). The purpose of the Policy is to provide shareholders,
directors and management of the Company with a clear framework for
nominating directors of the Company, which will (i) facilitate an
orderly and efficient process for the election of directors at
annual general and special meetings; (ii) ensure that all
shareholders receive adequate notice of the director nominations
and sufficient information with respect to all director nominees;
and (iii) allow shareholders to register an informed vote after
having been afforded reasonable time for appropriate
deliberation.
The Policy includes a process that requires
advance notice to the Company in circumstances where nominations of
persons for election to the Board of Directors are made by
shareholders of the Company. Among other things, the Policy fixes a
deadline by which holders of record of common shares of the Company
must submit director nominations to the Company prior to any annual
general or special meeting of shareholders and sets forth the
information that a shareholder must include in the notice to the
Company for the notice to be in proper written form.
In the case of an annual general meeting of
shareholders, notice to the Company must be made not less than 30
nor more than 65 days prior to the date of the annual general
meeting; provided, however, that in the event that the annual
general meeting is to be held on a date that is less than 50 days
after the date on which the first public announcement of the date
of the annual general 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 general meeting of
shareholders (which is not also an annual general meeting), notice
to the Company must be made 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 general meeting was
made.
The Policy provides that the Board of Directors
may, in its sole discretion, waive any requirement of the
Policy.
The Policy is in effect as at the date of this
news release. The Board of Directors intends to seek shareholder
ratification of the Policy at Coronado's next annual general and special
meeting (the "Meeting"), to be held on August 26, 2013. If the Policy is not confirmed
at the Meeting, the Policy will terminate and be of no further
force and effect following the termination of the Meeting. The full
text of the Policy is available via SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking
Statements:
Statements contained in this news release
that are not historical facts are forward-looking statements that
involve various risks and uncertainty affecting the business of
Coronado. Such statements can
generally, but not always, be identified by words such as
"expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "schedules", "prepares", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Forward-looking statements and information
concerning anticipated financial performance are based on
management's assumptions using information currently available.
Forward-looking statements in this news release include
Coronado's expectations regarding
the ability to confirm the Policy at the Meeting.
In making the forward-looking statements in
this news release, Coronado has
applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado's current beliefs and assumptions
made by Coronado, including that
Coronado will be able to obtain
the requisite shareholder approval to confirm the Policy at the
Meeting. Although Coronado
considers these beliefs and assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect, and the forward-looking statements in this release are
subject to numerous risks, uncertainties and other factors that may
cause future results to differ materially from those expressed or
implied in such forward-looking statements. Such risk factors
include, among others, that the shareholders do not approve the
Policy at the Meeting. Although Coronado has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. Coronado does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
Neither TSX-V nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE CORONADO RESOURCES
LTD.