Hybrid Minerals Adopts Advance Notice Policy, Appoints Drew Zimmerman to Board
Vancouver, British Columbia – November 3, 2020 – Hybrid Minerals Inc. (TSX-V: HZ) (Frankfurt: HM4) (“Hybrid” or the “Company”) announces that the board of directors of the Company (the “Board”) has approved the adoption of an advance notice policy (the “Policy”) to provide shareholders, directors and management of the Company with a clear framework for nominating directors. The Policy is meant to: (i) facilitate an orderly and efficient annual and/or special meeting process; (ii) ensure all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote, having been afforded reasonable time for appropriate deliberation.
The Policy contains a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of The Company. The Policy fixes deadlines by which shareholders of record of The Company must submit director nominations to the Company prior to any annual or special meeting of shareholders, and sets forth the information a shareholder must include in the notice to the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.
In the case of an annual meeting of shareholders, the deadline for notice to the Company pursuant to the Policy is not less than 30 days, or more than 65 days, prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders 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 (which is not also an annual meeting) of shareholders called for the purpose of electing directors (whether or not called for any other purposes), the deadline for notice to the Company pursuant to the Policy is no 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.
At the next annual general meeting of shareholders, being December 3, 2020, the Company will ask shareholders to ratify and confirm the adoption of the Policy. The Board has adopted the Policy and it will be in full force and effect as of the date hereof.
The full text of the Policy is available on www.sedar.com.
In addition, the Company announces the appointment of Drew Zimmerman, CEO of the Company, to the Board. Glen Macdonald has resigned from the Company effective immediately. The Company thanks Mr. Macdonald for his many years with the Company and wishes him all the best in future endeavors.
On Behalf of the Board
Chief Executive Officer
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.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.