VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 3, 2014) - Getty Copper Inc. (TSX VENTURE:GTC) ("Getty" or the "Corporation") today announced that its board of directors (the "Board") has adopted a policy which introduces an advance notice requirement in connection with shareholders intending to nominate directors in certain circumstances (the "Policy").
In particular, the Policy sets forth a procedure requiring advance notice to the Corporation by any shareholder who intends to nominate any person for election as director of the Corporation at any annual meeting of shareholders or any special meeting of shareholders, if one of the purposes for which the special meeting was called was the election of directors (a) by or at the direction of the Board; (b) a requisition of a meeting made pursuant to the provisions of the Canada Business Corporations Act (the "Act"), or (c) a shareholder nomination made pursuant to the provisions of the Policy. Among other things, the Policy sets a deadline by which such shareholders must notify the Corporation in writing of an intention to nominate directors prior to any meeting of shareholders at which directors are to be elected and set forth the information that the shareholder must include in the notice for it to be valid.
The Board believes that the Policy provides a clear and transparent process for all shareholders to follow if they intend to nominate directors. In that regard, the Policy provides a reasonable time frame for shareholders to notify the Corporation of their intention to nominate directors and require shareholders to disclose information concerning the proposed nominees that is mandated by applicable securities laws. The Board will be able to evaluate the proposed nominees' qualifications and suitability as directors and respond as appropriate in the best interests of the Corporation. The Policy is also intended to facilitate an orderly and efficient meeting process.
In the case of an annual meeting of shareholders, notice to the Corporation must be made not less than 30 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 tenth (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 Corporation must be made not later than the close of business on the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting was made.
The Policy is effective immediately and will be placed before shareholders for ratification at the upcoming annual meeting of shareholders of the Corporation (the "Meeting") to be held in June 2014. A copy of the Policy has been filed under the Company's profile at www.sedar.com. The Policy is in effect until it is confirmed, confirmed as amended or rejected by shareholders at the Meeting and, if the Policy is confirmed at the Meeting, it will continue in effect in the form in which they were so confirmed.
About Getty Copper Inc.
Getty is a Vancouver based company focusing efforts on advancing its 269 square kilometre (104 square miles) copper property which is immediately adjacent to Teck's Highland Valley copper mine. Getty filed a 43-101 compliance pre-feasibility study over the two known copper deposits, on the Getty property which is situated immediately adjacent to one of the world's largest open pit copper mines.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Corby G. Anderson QP CEng FIMMM FIChemE
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