November 14, 2016
Vancouver, B.C. (November 14, 2016) — I-Minerals Inc. (TSX.V: IMA; OTCQX: IMAHF) (“the Company” or “I-Minerals”) announces, that its plans to complete a change of jurisdiction from the federal jurisdiction of Canada to the province of British Columbia (the “Continuance”). The Continuance is subject to approval, by special resolution, of the shareholders of the Company at the Company’s annual general and special meeting to be held on December 7, 2016, and approval of the TSX Venture Exchange.
The Company further announces that it has submitted for shareholder approval, by special resolution, an advance notice policy (the “Advance Notice Policy”) and an amendment to the By-Laws of the Company to incorporate the Advance Notice Policy. The purpose of the Advance Notice Policy is to provide a clear process for the shareholders, directors, and management to follow when nominating directors of the Company. Such a policy will ensure that shareholders receive adequate notice of director nominations and sufficient information regarding all director nominees and to allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.
The Advance Notice Policy, among other things, includes a provision that requires advance notice to the Company in certain circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company. This Advance Notice Policy also sets a deadline by which director nominations must be submitted to the Company prior to any annual general or special meeting of the shareholders and also sets out the required information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with the Advance Notice Policy.
In the case of an annual 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 meeting; provided, however, that, in the event that the annual 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 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 meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not 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 meeting was made.
The details of the Continuance and the Advance Notice Policy are set out in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission and on SEDAR.
Per: “Thomas M. Conway”
Thomas M. Conway,
President & CEO
NEITHER THE 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.
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