RMC

Reservoir Minerals Inc. ("Reservoir" or the "Company") (TSX
VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE)is pleased to announce the appointment
of Mr. Stephen Scott to the Board of Directors (the "Board") of the Company and
that its Board of Directors has adopted a shareholder rights plan (the "Rights
Plan") designed to encourage the equal treatment of shareholders in connection
with any take-over bid for the outstanding securities of the Company.


Mr. Scott is a senior mining and mineral exploration executive with almost 30
years international industry experience. For the past 15 years Stephen has
worked for Rio Tinto in a number of international management and commercial
executive roles. Prior to that, he held senior positions in the international
junior/mid-cap exploration and mining sector. Between 2002 and 2005 Stephen was
President Director of Rio Tinto Indonesia responsible for Rio Tinto's Indonesian
business activities including management the company's interest in the Freeport
Grasberg copper mine. Notable projects and transactions Stephen either led or
worked on in recent years include; Oyu Tolgoi, La Granja, Pebble, Jadar
(Serbia), Chinalco Exploration Joint Venture, Hathor Exploration, DRC Iron Ore,
Ashton Canada, Penisquito, IRC Royalty package, Wafi, Ambler, Corani, Rossing
South, Greens Creek, Pinto Valley, Sulawesi Nickel, Altynalmas Gold and Inova
Resources (formally Ivanhoe Australia). 


Simon Ingram, President & CEO of Reservoir, commented, "We are very pleased
Stephen is joining the Reservoir board with his wealth of international
commercial mining experience. Reservoir will benefit particularly from Stephen's
major mining company joint venture operational expertise as the Company develops
the exciting copper-gold Timok Project joint venture with Freeport in Serbia."


Shareholder Rights Plan:

The Company also announces that its Board of Directors has adopted a shareholder
rights plan (the "Rights Plan") designed to encourage the equal treatment of
shareholders in connection with any take-over bid for the outstanding securities
of the Company. The Rights Plan also provides the Board of Directors with
additional time to assess the advantages and disadvantages to any particular
offer and to seek out alternative proposals in the best interests of the
shareholders.


The Board has not adopted the Rights Plan in response to any specific proposal
to acquire control of the Company's outstanding shares and the Rights Plan is
similar to plans adopted by other Canadian companies and approved by their
shareholders. The Rights Plan was not adopted to entrench management or prevent
a change of control of Reservoir. The Rights Plan does not apply to take-over
bids that meet certain requirements, including that the bid be made by way of a
take-over bid circular, be made to all shareholders and be left open for at
least 60 days so as to ensure that shareholders have an adequate opportunity to
assess the merits of the bid. 


The Rights Plan will be presented to the shareholders of the Company for
approval at the annual and special general meeting to be held on April 24, 2014
and is subject to regulatory acceptance. If approved by the shareholders, the
Rights Plan will have an initial term of three years. A copy of the Rights Plan
will be available for viewing on SEDAR at www.sedar.com, and can also be
obtained from Reservoir.


Advance Notice Policy:

Reservoir announces the adoption by its Board of Directors of an Advance Notice
Policy in respect of the election of directors. The purpose of the Policy is to
provide shareholders, directors and management of the Company with a clear
framework for nominating persons for election as directors of the Company. No
person will be eligible for election unless nominated in accordance with the
Policy.


The Policy was adopted to further the Company's commitments to: (i) facilitating
an orderly and efficient annual general or, where the need arises, special
meeting, process; (ii) ensuring that all shareholders receive adequate notice of
the director nominations and sufficient information regarding all director
nominees; and (iii) allowing shareholders to register an informed vote after
having been afforded reasonable time for appropriate deliberation. 


The Policy requires advance notice to the Company where nominations of persons
for election to the Board of Directors are made by shareholders. The Policy
fixes a deadline by which nominations of potential directors must be submitted
to the Company prior to any annual or special meeting of shareholders and sets
forth the information that must be included in the notice to the Company. 


For annual general meetings of shareholders, notice to the Company of
nominations of potential directors must be made not less than 35 days and not
more than 60 days prior to the date of the meeting but if 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.


For special general meetings of shareholders called for the purpose of electing
directors (whether or not called for other purposes), notice to the Company of
nominations of potential directors 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.


Pursuant to the terms of the Policy, the Company will seek shareholder
ratification of the Policy at its next annual and special general meeting of
shareholders. The Company also intends to formalize the Policy by, subject to
obtaining shareholder approval at that meeting, incorporating its terms into its
Articles. 


The full text of the Policy is available under the Company's profile at
www.sedar.com and on the Company's website (www.reservoirminerals.com).


About the Company:

Reservoir Minerals Inc. is an international mineral exploration and development
company run by an experienced technical and management team, with a portfolio of
precious and base metal exploration properties in Europe and Africa. The Company
operates an exploration partnership business model to leverage its expertise
through to discovery. 


This news release includes certain "forward-looking statements" under applicable
Canadian securities legislation. Such forward-looking statements or information,
including but not limited to those with respect to the adoption and effect of
the Rights Plan and the Advance Notice Policy, regulatory and shareholder
approvals, the annual and special general meeting of the Company's shareholders
and the Company's mineral projects, involve known and unknown risks,
uncertainties, and other factors which may cause the actual results, performance
or achievements of Reservoir Minerals Inc. to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements or information. Such factors include, among others,
failure of the shareholders of the Company to approve the Rights Plan or Advance
Notice Policy, failure to obtain required regulatory approvals, the actual
prices of commodities, the actual results of current exploration, development
and mining activities, changes in project parameters as plans continue to be
evaluated, as well as those factors disclosed in documents filed from time to
time with the securities regulators in the applicable Provinces of British
Columbia and Alberta. 


Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization
of Canada accepts responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Reservoir Minerals Inc.
Chris MacIntyre
VP Corporate Development
+1.416.703.0010
chris@reservoirminerals.com
www.reservoirminerals.com

Reservoir Minerals Inc. (TSXV:RMC)
Historical Stock Chart
From Oct 2024 to Nov 2024

Reservoir Minerals Inc. (TSXV:RMC)
Historical Stock Chart
From Nov 2023 to Nov 2024