Wilton Resources Inc.
TSX VENTURE : WIL

March 18, 2013 18:28 ET

Wilton Resources Inc. Adopts Amendment to By-laws Requiring Advance Notice of Nomination of Directors

CALGARY, ALBERTA--(Marketwire - March 18, 2013) -

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Wilton Resources Inc. ("Wilton" or the "Corporation") (TSX VENTURE:WIL) is pleased to announce that it has adopted an amendment to its By-laws, similar to By-law amendments and policies recently adopted by a number of other Canadian public companies, requiring advance notice to the Corporation for nominations of directors by shareholders other than through a requisitioned meeting or by way of a shareholder proposal pursuant to applicable corporate laws.

The By-law amendment is not intended to discourage director nominations but rather to facilitate orderly and efficient meetings at which directors are to be elected and to permit shareholders to register an informed vote by allowing them to receive sufficient information with respect to all director nominees and reasonable time for appropriate deliberation.

The By-law amendment provides shareholders, directors and management of the Corporation with a clear framework for nominating directors in an orderly and fair manner. The By-law amendment fixes a deadline by which holders of record of common shares of the Corporation must submit director nominations to the Corporation prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Corporation for the notice to be in proper written form in order for any director nominee to be eligible for election at any annual or special meeting of shareholders.

In the case of an annual meeting of shareholders, notice to the Corporation 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 Corporation 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 By-law amendment is effective immediately and will be placed before shareholders for confirmation at the Corporation's annual and special meeting of shareholders to be held on April 15, 2013. A copy of the By-law amendment is available under the Corporation's profile at www.sedar.com.

About Wilton

Wilton is a Canadian company listed on the TSX Venture Exchange and is focused on the acquisition of large international oil and gas assets and engaging in international oil and gas exploration.

Additional information regarding Wilton Resources Inc. is available on www.sedar.com.

FORWARD-LOOKING INFORMATION

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Undue reliance should not be placed on such forward-looking information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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 release.

Contact Information

  • Wilton Resources Inc.
    Richard G. Anderson
    Chief Executive Officer
    (403) 619-6609