Ottawa – 21 February 2018 – BluMetric Environmental Inc. (TSX-V: BLM) announced today that its Board of Directors has adopted two new by-laws:
The General By-Law, among other provisions, contains provisions designed to ensure that BluMetric’s by-law remains consistent with evolving corporate laws and governance practices and guidelines. The General By-Law increases the quorum requirement for BluMetric shareholder meetings to two or more persons holding or representing at least 10% of the eligible votes, and removes the Chair’s casting vote (meaning a second vote in the event of a tie) at any meeting of the Board of Directors.
The Advance Notice By-Law includes advance notice requirements for director elections in connection with any annual or special meeting of the shareholders. The Advance Notice By-Law has been adopted to ensure that all shareholders receive adequate notice of director nominations, giving them sufficient time and information to enable them to exercise their voting rights in an informed manner. The Advance Notice By-Law is similar to the advance notice by-laws adopted by several other Canadian public companies. In particular:
The Advance Notice By-Law also outlines the proper written form for a shareholder's notice. The Board of Directors may, in its sole discretion, waive any requirement under these provisions.
Both the General By-Law and Advance Notice By-Law are effective immediately and will be placed before shareholders for approval, confirmation, and ratification at the next Annual and Special Meeting of Shareholders of the Company, which is scheduled to be held on March 28, 2018. According to the provisions of the Canada Business Corporations Act, each of the General By-Law and Advance Notice By-Law, respectively, will cease to be effective unless it is approved, confirmed, and ratified by a resolution adopted by a majority of the shareholder votes cast, in person or by proxy, at the Meeting.
The full text of the by-laws is available under the Company's profile at www.sedar.com.
BluMetric Environmental Inc. is a publicly traded cleantech company with a portfolio of industry-leading products, processes, and services in the environment sciences and engineering sectors. We take pride in our strong record of providing sustainable solutions to the world’s environmental challenges.
Headquartered in Ottawa, Ontario, BluMetric’s award-winning team of industry experts serves clients in Canada, the United States, and Central America.
For more information, visit www.BluMetric.ca, or please contact:
Jane E. Pagel, Board Chair
BluMetric Environmental Inc.
Tel: 613.839.3053 x240
Robin M. Sundstrom
IRonside Investor Relations
Some of the statements in this press release, including those relating to discussions of the Company’s contractual and corporate agreements, future products, opportunities and cost initiatives, strategies and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company’s expectations, estimates, and projections regarding future events. The Company does not undertake any obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events, except as required by law.
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