TORONTO, ONTARIO (March 7, 2014 – Pangolin Diamonds Corp. (TSX-V: PAN)
(the “Company” or “Pangolin”) announces that at its annual general & special meeting (the “Meeting”) of its shareholders held on Wednesday, March 5, 2014, the Company’s nominees to the board of directors, namely: Louis Peloquin, Jean Lafleur, Leon Daniels and Tom Fenton, were elected as directors, in each case without any votes withheld.
The Company also announces that at its Meeting, shareholders of the Company (“Shareholders”) approved: (i) the renewal of the Company’s “rolling” stock option plan and (ii) a by-law establishing a framework for advance nominations of directors by Shareholders (the “Advance Notice By-law”). The Advance Notice By-law is similar to the advance notice by-laws adopted by many other Canadian public companies, and provides for advance notice of nominations of directors in circumstances where nominations for election to the Board of Directors are made by Shareholders. The Advance Notice By-law is designed to provide Shareholders, directors and management of the Company with a transparent, structured and fair process for nominating directors of the Company in connection with any annual or special meeting of Shareholders. More information can be obtained on the Advance Notice By-Law by referring to the Company’s proxy circular prepared in connection with the Meeting and filed on SEDAR.
The Company also confirms that Rick Bonner, the President and Chief Executive Officer of Pangolin, was granted a 5 year option on 300,000 shares, each share under option having an exercise price of $0.25.
Click to download PDF:March 2014 re Holds AGM_ Issues Option