Mr. Andrew Rees
reports
WELLSTAR ENERGY CORP. ANNOUNCES ADVANCE NOTICE POLICY
Wellstar Energy Corp.'s board of directors has approved and adopted an advance notice policy. The purpose of the policy is to provide shareholders, directors and management of Wellstar
with a clear framework for nominating directors of the company. Wellstar is committed 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 is intended to further these
objectives.
The policy, among other things, includes a provision that requires advance notice to the company in
certain circumstances where nominations of persons for election to the board of directors are made by
shareholders of the company. The policy fixes a deadline by which director nominations 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. No person will be eligible for election as a director of
Wellstar unless nominated in accordance with the policy.
In the case of an annual meeting of shareholders, notice to the company must be made not less than 30
days and not more than 65 days prior to the date of the annual meeting; provided, however, that, in the
event that 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.
In the case of a special meeting of shareholders called for the purpose of electing directors (whether or
not called for other purposes), notice to the company 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.
The full text of the policy is available under the company's profile on SEDAR.
The policy is in effect as at Nov. 9, 2015. Pursuant to the terms of the policy, the company will seek
shareholder ratification of the policy by ordinary resolution at its next annual general meeting of
shareholders. If the policy is not confirmed at the meeting, the policy will terminate and be
of no further force and effect following the termination of the meeting. Approval of the alteration of the
articles of the company by the addition of provisions requiring advance notice of director nominees from
shareholders shall be also be sought from shareholders of the company at the next meeting of
shareholders by ordinary resolution.
The above-noted proposed amendments to the articles is also subject to receipt of TSX Venture Exchange
approval.
We seek Safe Harbor.
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