CALGARY,
April 11, 2013 /CNW/ - Georox
Resources Inc. ("Georox" or the "Corporation"), TSXV:
GXR, announced today that its Board of Directors approved the
adoption of a new bylaw of the Corporation (the "Notice
Bylaw") on April 11,
2013. The Notice Bylaw requires advance notice to the
Corporation in circumstances where nominations of persons for
election as a director of the Corporation are made by shareholders
other than pursuant to: (i) a requisition of a meeting made
pursuant to the provisions of the Canada Business Corporations
Act (Alberta) (the
"Act"); or (ii) a shareholder proposal made pursuant to the
provisions of the Act.
Among other things, the New Bylaw fixes a
deadline by which shareholders must submit a notice of director
nominations to the Corporation 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 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 New Bylaw is effective immediately. At the
next meeting of shareholders of the Corporation, to be held on
May 10, 2013, shareholders will
be asked to confirm and ratify the New Bylaw.
About Georox
Georox is a Canadian natural resource company
engaged in the acquisition, exploration and development of oil and
gas properties in Western Canada.
The Common Shares trade on the TSX Venture Exchange under the
symbol GXR and on the Frankfurt Stock Exchange under the
Symbol:OF6A.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking
statements relating to the future operations of the Corporation and
other statements that are not historical facts. Forward-looking
statements are often identified by terms such as "will", "may",
"should", "anticipate", "expects" and similar expressions.
All statements other than statements of historical fact, included
in this release, including, without limitation, statements
regarding future plans and objectives of the Corporation, are
forward looking statements that involve risks and
uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Corporation's expectations are exploration
risks detailed from time to time in the filings made by the
Corporation with securities regulations.
The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results
to differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of Georox. As a result, we
cannot guarantee that any forward-looking statement will
materialize and the reader is cautioned not to place undue reliance
on any forward-looking information. Such information, although
considered reasonable by management at the time of preparation, may
prove to be incorrect and actual results may differ materially from
those anticipated. Forward-looking statements contained in
this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this
news release are made as of the date of this news release, and
Georox does not undertake any obligation to update publicly or to
revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by Canadian securities law.
SOURCE Georox Resources Inc.