VANCOUVER, March 3, 2017 /CNW/ - Gitennes Exploration
Inc. ("Gitennes" or the "Company") - (TSXV: GIT) announces today
that it has completed its continuance into British Columbia under the British Columbia Business Corporations
Act (the "BCBCA") from the province of Ontario as of February
24, 2017.
The continuance was approved by a special resolution of
shareholders at the Company's Annual General Meeting on
August 15, 2016, as reported in a
news release issued by the Company on August
15, 2016.
The head office of the Company is located in British Columbia, and considering the nature
of the Company's management and directors, shareholder base and
operations, the continuance under the BCBCA will provide the
Company with more flexibility as there are no residency
requirements for the directors of a company existing under the
BCBCA.
Advance Notice Policy
The Company is also announcing the adoption of an advance notice
policy (the "Advance Notice Policy") regarding director elections.
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 Secretary of the
Company in certain circumstances where nominations of persons for
election to the board of directors are made by shareholders of the
Company. The Advance Notice Policy fixes a deadline by which
director nominations must be submitted to the Secretary of the
Company prior to any annual or special meeting of shareholders and
sets forth the information that must be included in the notice to
the Secretary of 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
Secretary of the Company must be made not less than 30 days and not
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 (which is not also an annual
general meeting) of shareholders called for the purpose of electing
directors (whether or not called for other purposes), notice to the
Secretary of 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 of
shareholders was made.
The full text of the provisions of the Advance Notice Policy can
be found within the Company's Articles.
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing
mineral deposits. Gitennes acquires properties directly by staking,
through option agreements with prospectors or other exploration
companies, and through reconnaissance programmes. The Company
currently has two gold exploration properties, Hixon and Snowbird, both in British Columbia and has a 1.0% Net Smelter
Returns royalty on the Urumalqui Silver Project in Peru.
For further information on the Company, readers are referred to
the Company's website at www.gitennes.com and its Canadian
regulatory filings on SEDAR at www.sedar.com.
On behalf of the Board of Directors of
Gitennes Exploration Inc.
"Ken Booth"
Ken
Booth
President
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.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain statements that constitute
"forward-looking information" within the meaning of applicable
Canadian securities laws concerning the business, operations and
financial performance and condition of the Company. All
statements in this news release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations and orientations regarding the
future. Often, but not always, forward-looking statements can
be identified by words such as "pro forma", "plans", "expects",
"may", "should", "budget", "schedules", estimates", "forecasts",
"intends", "anticipates", "believes", "potential" or variations of
such words including negative variations thereof and phrases that
refer to certain actions, events or results that may, could, would,
might or will occur or be taken or achieved. Such
forward-looking statements include, among others, statements as to
the anticipated business plans and timing of future activities of
the Company. Actual results could differ from those projected
in any forward-looking statements due to numerous factors.
Although the Company believes that the beliefs, plans, expectations
and intentions contained in this news release are reasonable, there
can be no assurance that those beliefs, plans, expectations or
intentions will prove to be accurate. Readers should consider
all of the information set forth herein and should review the
Company's periodic reports filed from time-to-time with Canadian
securities regulators. These reports and the Company's
filings are available at www.sedar.com.
Readers are cautioned not to place undue reliance on
forward-looking statements. The forward-looking statements
contained in this news release are made as of the date of this news
release and, except as otherwise required by law, the Company
undertakes no obligation to update the forward-looking statements
contained herein, or to update the reasons why actual results could
differ from those projected in these forward-looking
statements.
SOURCE Gitennes Exploration Inc.