FRIEDENS, PA, May 29, 2020 /CNW/ - Corsa Coal Corp. (TSXV: CSO;
OTCQX: CRSXF) ("Corsa" or the "Company") announced today that it
will hold its annual and special meeting of shareholders at
9:00 a.m. (Eastern Daylight Time) on
June 30, 2020 (the "Meeting") in a
virtual only format via live webcast online at
https://web.lumiagm.com/283985696 (password: corsa2020).
Shareholders entitled to vote will receive materials relating to
the Meeting, including the Company's management information
circular (the "Circular"), which will contain detailed information
about virtual participation in the Meeting and the matters to be
voted upon. The Circular, along with the accompanying Meeting
materials, are being mailed to Shareholders and will be available
online through the Company's website at www.corsacoal.com or under
Corsa's profile on SEDAR at www.sedar.com.
The Company also announced that effective immediately its board
of directors (the "Board") has amended the Company's General By-Law
No. 1 (the "By-Law Amendment") to: (i) implement a minor technical
amendment allowing the Company to hold a virtual meeting of
shareholders; and (ii) institute certain advance notice
requirements (the "Advance Notice Requirements") in connection with
the election of directors to the Board in order to provide
shareholders, directors and management of the Company with a clear
framework for nominating directors.
Among other things, the Advance Notice Requirements fix a
deadline by which shareholders must submit a notice of director
nominations to the Company prior to any annual or special meeting
of shareholders where directors are to be elected and sets forth
the information that a shareholder must include in the notice for
it to be valid. In the case of: (i) an annual meeting (or an annual
and special meeting) of shareholders, notice must be provided not
later than the close of business on the thirtieth day before the
date of the meeting; provided, however, if the date (the "Notice
Date") on which the first public announcement made by the Company
of the date of such meeting is less than 50 days prior to the
meeting date, not later than the close of business on the tenth day
following the Notice Date; and (ii) a special meeting (which is not
also an annual meeting) of shareholders, not later than the close
of business on the fifteenth day following the day on which the
first public announcement of the date of the special meeting is
made by the Company. However, with respect to the Meeting or any
adjournment or postponement thereof, a nominating shareholder's
notice to the Company, including required information, must be
provided no later than the close of business on June 8, 2020.
The By-Law Amendment is effective immediately, will be placed
before shareholders at the Meeting, and, while operative in respect
of the Meeting, will cease to be effective for subsequent meetings
unless approved, confirmed and ratified by an ordinary resolution
at the Meeting. The full text of the By-Law Amendment will be filed
under Corsa's profile on SEDAR at www.sedar.com
Information about Corsa
Corsa is a coal mining company focused on the production and
sales of metallurgical coal, an essential ingredient in the
production of steel. Our core business is producing and selling
metallurgical coal to domestic and international steel and coke
producers in the Atlantic and Pacific basin markets.
Forward Looking Statements
Certain information set forth in this press release contains
"forward-looking statements" and "forward-looking information"
under applicable securities laws (collectively, "forward looking
statements"). Except for statements of historical fact, all other
statements in this press release constitute forward-looking
statements which include the date and the format of the Meeting and
are based on current internal expectations, estimates, projections,
assumptions and beliefs, which may prove to be incorrect. Some of
the forward-looking statements may be identified by words such as
"estimates", "expects" "anticipates", "believes", "projects",
"plans", "capacity", "hope", "forecast", "anticipate", "could" and
similar expressions. These statements are not guarantees of future
performance and undue reliance should not be placed on them. Such
forward-looking statements necessarily involve known and unknown
risks and uncertainties. The forward-looking statements contained
in this press release are based on certain assumptions and there
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The reader is
cautioned not to place undue reliance on forward-looking
statements. Corsa does not undertake to update any of the
forward-looking statements contained in this press release unless
required by law.
The TSX Venture Exchange has in no way passed on the
merits of this news release. 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 release.
SOURCE Corsa Coal Corp.
