SYS-CON MEDIA Authors: Carmen Gonzalez, Yeshim Deniz, Sean Houghton, Glenn Rossman, Ignacio M. Llorente

News Feed Item

Reservoir Minerals Appoints New Director, Adopts Shareholder Rights Plan, and Advance Notice Policy

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/12/14 -- 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to th...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
SYS-CON Media announced that Centrify, a provider of unified identity management across cloud, mobile and data center environments that delivers single sign-on (SSO) for users and a simplified identity infrastructure for IT, has launched an ad campaign on Cloud Computing Journal. The ads focus on security: how an organization can successfully control privilege for all of the organization’s identities to mitigate identity-related risk without slowing down the business, and how Centrify provides ...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...