International Northair Mines Ltd. (TSXV: INM) (the “Company” or “Northair”) announce that the board of directors of the Company (the “Board”) has approved an Advance Notice Policy effective May 31, 2013. The Board of Directors adopted the Advance Notice Policy (the “Policy”) to ensure, among other things, that all of the shareholders are provided with sufficient notice of the proposed alternative nominees well in advance of the any shareholder and that all of the shareholders are given ample opportunity to vote on a fully informed basis.
The Policy includes, among other things, a provision that requires advance notice be given to the Company in circumstances where nominations of qualified individuals for election to the Board are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (British Columbia) (the “Act”); or (ii) a shareholder proposal made pursuant to the provisions of the Act. The Policy sets a deadline by which holders of record of common shares in the capital of the Company must submit director nominations to the Company prior to any annual general 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.
In the case of an annual general meeting of shareholders, notice to the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual general meeting. However, 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 tenth day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual general meeting) notice to the Company must be made not later than the close of business on the fifteenth day following the day on which the first public announcement of the date of the special meeting was made.
The Company also intends to seek approval from shareholders of an amendment to the articles of the Company to provide for advance notice provisions similar to those contained in the Policy at the Company’s annual general and extraordinary meeting of shareholders to be held on July 25, 2013 (the “Meeting”). The full text of the Policy is available under the Company’s profile on SEDAR at www.sedar.com. Further details on the Meeting and the Policy will be contained in a Management Information Circular to be mailed to shareholders of the Company in connection with the Meeting. The Management Information Circular will also be available on SEDAR.
About International Northair Mines Ltd.
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. The Company is currently focused on advancing its La Cigarra silver project located in the state of Chihuahua, which currently hosts a NI 43-101 resource estimate of 50.4 million ounces of silver in the measured & indicated categories grading 76 g/t silver and 3.5 million ounces of silver in the inferred category grading 61 g/t silver constrained by a Whittle pit shell at an economic cutoff grade of 30 g/t silver (assuming metallurgical recoveries of 84% silver). The La Cigarra silver deposit also contains appreciable amounts of lead, zinc and gold.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
“Fred G. Hewett”
Fred G. Hewett, P.Eng.
President & CEO
at 604-687-7545 or 1-888-338-2200
Website: www.northair.com/international/ Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain forward looking statements which are not historical facts, such as statements regarding the date of the meeting, ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair’s filings for a more detailed discussion of factors that may impact expected results. Forward-looking statements are based on the beliefs, opinions and expectations of the Company’s management at the time they are made, and other than as required by securities law, the Company does not assume any responsibility to update forward-looking statements if beliefs, opinions and expectations change.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available