Augustine Ventures Inc.
CNSX : WAW

Augustine Ventures Inc.

May 02, 2013 14:26 ET

Augustine Announces Advance Notice By-Law Amendment and Granting of Stock Options

TORONTO, ONTARIO--(Marketwired - May 2, 2013) - Augustine Ventures Inc. (CNSX:WAW) ("Augustine" or the "Company") announces Board approval of amendments to its by-laws to include advance notice provisions, the purpose of which is to require that advance notice be provided to the Company in circumstances where nominations of persons for election to the Board of Directors of the Company are made by shareholders other than pursuant to the requisition of a meeting or a shareholder proposal, in each case as made in accordance with the provisions of the Business Corporations Act (Ontario).

Among other things, the advance notice provisions fix a deadline by which shareholders must notify the Company of nominations of persons for election to the Board and provides that the same information about the proposed nominee as one would have to include in a dissident proxy circular under applicable securities laws must be provided to the Company by the deadline.

Dr. Robert Dodds, President and CEO of Augustine said, "The approval of the advance notice by-law amendment aims to ensure that an orderly nomination process is observed and that shareholders are well-informed about director nominees."

The amendment to the by-laws is effective as of the date it was approved by the Board of Directors of the Company, being April 30, 2013. In accordance with the provisions of the Business Corporations Act (Ontario), the amendment will be subject to confirmation by shareholders at the annual and special meeting of shareholders, which will be held on July 11, 2013. Shareholders of record on May 30 will be entitled to notice of the meeting and to vote thereat. The amendment will apply to this meeting, unless it is ultimately not confirmed by shareholders.

The amendment, containing the full details of the advance notice provisions, is being filed under the Company's profile on SEDAR at www.sedar.com.

The Company also announces that it has granted a total of 2,600,000 in new stock options to its officers, directors, employees and consultants pursuant to the terms of the Company's Stock Option Plan. The options vest immediately, are exercisable at $0.10 per common share and will expire on April 30, 2016. After giving effect to these option grants, there are currently 5,425,000 stock options outstanding.

About Augustine Ventures Inc.

Augustine Ventures Inc. is a junior gold exploration company which has an option to earn up to a 75% interest on the Wawa Gold Project which encompasses 2,345 hectares in McMurray Township, southeast of the Town of Wawa, Ontario. Over 95 percent of the property consists of leases and/or patents for both mineral and surface rights that are easily accessible. The property has a gold resource of 1.1 million ounces at 1.5 g/t (NI 43-101 compliant) with known depth extension to 600 meters, a history of past production from the known vein deposits and a large number of untested but documented gold occurrences. Augustine has also acquired a 100% undivided interest in an additional 161 claim units known as the Oakley Lake Property totalling 2,576 hectares adjacent to its Wawa Gold Project.

This news release may contain forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate", "believe", "plan", may", "could", "would", "might" or "will", "estimates", "expect", "intend", "budget", "scheduled", "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent filings with Canadian securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

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